A January 15 Reuters report indicates that Belarus has launched a trading platform enabling customers to purchase tokenized versions of shares, Gold and other traditional assets.
This Belarusian project is reportedly backed by two companies, Larnbel ventures, and VP capital. Reuter’s reports that the Belarusian government is yet to comment on the platform launch officially. Only the state news agency BelTa has reportedly covered it.
When the platform finally launches, traders will have the ability to buy precious metals, foreign exchange, shares, and other traditional assets from Belarus as well as from other countries with cryptos. Since inception, the platform has reportedly issued 150 different tokens, with each corresponding to a traditional financial instrument that can be bought in the country. The company hopes to balloon this number from 150 to about 10,000 different tokens.
Reuters further reported that the Belarusian government had set up a tax free window for transactions with tokenized securities which will extend up to the year 2023. Those seeking to register for the new platform will have to pass an Anti-Money laundering (AML) verification procedure
Enthusiasm for the platform showed immediately, with reported 2000 registration applications within the first 2 hours of launch. This enthusiasm had probably been building slowly, following November last year’s events that saw the Belarus High-Technologies Park, a national special economic zone dedicated to the IT industry establishing crypto operation rules in the country.
Crypto’s had also received a special mention by the country’s communications and information minister, Sergey Popkov earlier last year, with him terming crypto’s as top priority inorder to transform the economy.
This Belarusian platform is not the first of its kind. Jan 3rd 2019 saw Estonian trading platform DX Exchange announced a similar product that will allow users to purchase tokens backed by various major companies such as Amazon, Google and Facebook. ���/^�x��
