TokenGX is the first company approved for pilot testing secondary trading of digital securities in Ontario and announces its disruptive FreedomX blockchain-powered marketplace.
TokenGX Inc. (TokenGX) and its affiliate TokenFunder Inc. (TokenFunder) are pleased to announce that TokenGX has received approval from the Ontario Securities Commission (OSC) for pilot testing a secondary trading marketplace of digital securities.
The Ontario Securities Commission approved ground-breaking exemptive relief for TokenGX to launch and operate FreedomX, a secondary trading marketplace for security tokens issued by Issuers on the TokenFunder platform. FreedomX will be powered by TokenFunder’s leading edge blockchain technology. All participating investors will finally be able to buy and sell private market securities directly between themselves.
TokenGX Co-Founder Laura Pratt says “As part of the current Creative Destruction Lab blockchain cohort, our FreedomX platform will define the next generation of trading in Canada and unlock enormous value in the private markets. We envision a world where all assets will be tokenized and tradeable.”
TokenGX Co-Founder Alan Wunsche adds, “We are excited to receive the support of the OSC and specifically the OSC LaunchPad. The OSC LaunchPad team clearly understands the transformative potential of blockchain technologies in capital markets. Their willingness to grant exemptive relief in the private markets demonstrates a commitment to supporting innovation while putting investors first. This is an extremely important day for Canadian competitiveness in a global financial market.”
Wunsche continued, “TokenFunder’s leading edge security token issuance platform has a full investor onboarding and investing experience for retail and accredited investors. With today’s announcement, TokenFunder will now power the FreedomX secondary trading marketplace. With digital shares recorded on a public blockchain, we will not only dramatically reduce the cost of capital for Issuers compared to traditional platforms, but also provide liquidity through the secondary trading marketplace, which also includes critical ongoing management disclosures and investor relations services for our Issuers. These ongoing services will be good for both investors and issuers on the TokenFunder platform.”
For more information, the Decision Order is available at: https://www.osc.gov.on.ca/en/SecuritiesLaw_ord_20191023_tokengx.htm