Securitize receives regulatory approval from the SEC for BD/ATS acquisition

Is the SEC going soft on tokenization and digital assets?

Securitize, the industry-leading primary issuance and compliance platform for digital securities (security tokens) and an SEC-registered transfer agent, announced today that it has received regulatory approval to acquire Distributed Technology Markets, LLC,  a FINRA registered broker-dealer with an alternative trading system (ATS) on file with the SEC.

The entity, which will be renamed Securitize Markets, LLC “Securitize Markets”, enables Securitize to offer a complete digital suite of services from primary issuance through secondary trading.

Carlos Domingo, Securitize CEO and co-founder stated, “Private markets represent a massive segment of the modern global economy but are way behind when it comes to using technology to make issuing and trading more efficient, transparent, and accessible.”

“By integrating Securitize Markets into our existing digital transfer agent platform and services, we can now offer a seamless digital solution for issuers and investors that dramatically improves the experience compared to the poorly digitized processes that are being used today” said Mr Domingo.

Securitize has over 130 customers, all of which are managed using Securitize’s transfer agent platform and services, and DS (Digital Securities) Protocol technology.

Securitize also announced that Jonathan Kelfer, former Co-Founder and CEO of Velocity Markets – one of the divisions of the newly acquired DTM – has been named as the firm’s new CTO.

Chris Wittenborn and Patrice O’Mara have been named as the leadership team for Securitize Markets. Wittenborn will serve as CEO and O’Mara as CCO. They previously held the same roles at DTM.

Chris Wittenborn, CEO of Securitize Markets stated, “Securitize Markets is continuing the initiative of working hand in hand with regulatory bodies to construct a compliant capital markets framework for private securities – including digital asset securities. We’re excited to join forces with Securitize in an effort to continue developing this market.”

Read this next

Institutional FX

Euronext reports double-digit growth in FX volume

Pan-European exchange, Euronext has reported a 10 percent rebound in the average daily volume on its spot foreign exchange market. The ADV figure stood at $19.6 billion in January 2022, which is up from December’s $18 billion.

Digital Assets

Voyager subpoenas FTX’s inner circle over Alameda loan

Bankrupt crypto broker Voyager Digital, represented by law firm Kirkland & Ellis, is seeking court approval to subpoena Sam Bankman-Fried’s inner circle, as well as Alameda Research’s former executives.

Retail FX

AvaTrade seals sponsorship deal with F1’s Aston Martin team

Dublin-based forex broker AvaTrade today announced that it has concluded a sponsorship deal with Formula One’s Aston Martin Cognizant team that entails sponsorship rights and other marketing benefits.

Executive Moves

M4Markets onboards Invaxa CEO Marios Antoniou as COO

Seychelles-regulated brokerage firm M4Markets has appointed Marios Antoniou, who has a colorful career within the foreign exchange industry, in the capacity of its Chief Operations Officer.

Digital Assets

GK8 now allows clients to control their digital assets as they would their fiat

“As the institutional market is increasingly turning to self custody, our policy engine empowers them to automate transactions, approvals, and even crucial workflows, while providing the highest degree of security, consistency, governance and control.”

Digital Assets

Retail CBDCs in the UK: “Welcomed” by CryptoUK and R3, but “Dystopian” for ETC Group

“At this stage, we judge it likely that the digital pound will be needed in the future. It is too early to decide whether to introduce the digital pound, but we are convinced preparatory work is justified”, said the BoE and HM Treasury.

Institutional FX

Centroid taps Iress API to provide retail brokers with real-time market data

“It has always been a challenge to have an efficient, elegant solution for market data and order execution for retail brokers, but with Iress we have found absolutely the right partner to add to our client offering.”

Digital Assets

Ramp launches FCA-approved off-ramp product, onboards Brave, Trust Wallet, Ledger

“To obtain and maintain our FCA registration, we must meet and operate within their strict anti-money laundering and counter-terrorist financing standards. This is a huge achievement for us, as compliance is a cornerstone of our business and what we stand for.”

Institutional FX

State Street launches FIX API for Fund Connect ETF platform

“Expanding from proprietary APIs to the FIX industry standard will bring us closer to our goal of 100% digital interactions. This is another example of innovations we’ve brought to our operating model as we celebrate 30 years of servicing ETFs since the launch of SPY.”

<