Bittrex Prepares to Trade Security Tokens via Partnership with ATS

Bittrex Prepares to Trade Security Tokens via Partnership with ATS

The two firms of Bittrex and Rialto trading have partnered to offer an innovative digital securities trading platform that is awaiting regulatory approval. Once given the green light, it could mean Bittrex could eclipse Coinbase in attracting more institutional investors.

On the 23rd of August, Bittrex and Rialto Trading – a next generation Alternative Trading System (ATS) – announced that they were teaming up to offer a new, innovative digital securities (also known as security tokens) trading platform. Rialto currently operates a regulated ATS for trading fixed income products. The firm, together with Bittrex, are currently awaiting the regulatory go ahead to expand their trading to include blockchain-based, digital securities.

The partnership will combine Rialto’s experience as a licensed broker-dealer through its ATS system, its tools and securities industry experience, with Bittrex’s know how in the blockchain industry. The latter firm can be considered as an expert in cryptocurrency trading as well as cyber security. The joint venture will support USD pairings for digital securities as well as issuance advisory services, placement, trading, and custody.

Institutional investors, accredited investors, corporations and U.S.-registered broker-dealers are encouraged to submit their interest for an account at:

Rialto Trading CEO, Shari Noonan, had this to say about the partnership:

We are excited to share Rialto’s expertise in building networks and trading solutions in the regulated securities industry to develop this new venture in partnership with Bittrex. By working together, we’ll be able to expand our current client offerings to not only include digital securities, but also provide them access to a globally advanced and reliable trading platform.

Bittrex’s CEO, Bill Shihara, had similar sentiments when he stated the following:

It takes a unique combination of advanced technology and financial expertise to build and launch an efficient, reliable and secure platform for trading digital securities, and we found the ideal partner in Rialto and its CEO Shari Noonan. We’re merging Bittrex’s technology, cybersecurity and blockchain expertise with Rialto’s deep knowledge of the securities industry.

And, when you add that foundation with Rialto’s extensive background in financial services, including Shari’s experience at Goldman Sachs and Deutsche Bank, this new venture is well-positioned to further advance blockchain’s adoption by offering a comprehensive solution at the right time.

A Threat to Coinbase?

Weiss Ratings captured the partnership of the two firms when it made the following announcement on Twitter:

U.S.-based cryptocurrency exchange Bittrex is partnering with registered broker-dealer Rialto Trading to offer a trading venue for blockchain-based digital assets. #Bitrex is going for the kill – #Coinbase, watch out!

The tweet indicates that with this new partnership, Bittrex might pose as an immediate threat to Coinbase by attracting institutional investors as well as being open minded about trading digital securities.

What do you think about the new partnership between Bittrex and Rialto? Will it bring the much awaited institutional investors into crypto investing? Is it also a threat to Coinbase? Let us know what you think in the comments section below.

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