TokenMarket Partners with Loopring to Create Decentralized Security Token Exchange

Global security token and investment platform TokenMarket is partnering with Loopring, a protocol for decentralized exchanges. The two companies will work together to launch Loopring Protocol 3.0. 

TokenMarket and Loopring are announcing a special partnership and will be working on Loopring’s upcoming 3.0 protocol, a recent press release reads. 

TokenMarket is working together with Loopring to create its own decentralized securities exchange. If successful, it would be the first of its kind. Loopring 3.0 will boast much faster speeds than Ethereum, allowing up to 525 transactions per second by using zero-knowledge proofs.

With Loopring, TokenMarket hopes to create a compliant, decentralized security token market. The company has been responsible for raising over £240M in total for over 30 blockchain companies. They are aiming to boost liquidity for security token offerings.

TokenMarket CTO spoke about the partnership saying:

“Using Loopring Protocol 3.0 will enable our users to have even more protection on our decentralised security token exchange. The groundbreaking protocol Loopring has developed, combined with our decentralized platform, will give users the freedom that centralised exchanges simply do not have. I am excited to be working closely alongside the Loopring team as things develop.”

Loopring Founder Daniel Wang had similar positive sentiments about the partnership moving forward.

“Our mission is to support the future of value exchange, and we’re thrilled that TokenMarket has chosen to integrate and build upon Loopring to power their platform. TokenMarket has ambitious plans regarding security token trading venues, which is a sector Loopring has developed infrastructure for since version 2 of our protocol. We’re optimistic their experienced team will excel.”

Do you believe decentralized exchanges will soon have to support security tokens? Let us know your thoughts below. 

Image courtesy of TokenMarket.