In line with a recent news ‘published‘ by Reuters, Belarus has recently revealed its trading platform that would permit customers to purchase tokenized versions of shares, gold and other standard assets.
The project is reportedly backed by 2 firms, Larnabel Ventures and VP Capital. In line with Reuters, the govt. of Belarus has not commented on the launch of the platform, however the news was reported by the state’s native news agency named ‘BelTa’.
The platform would permit traders to purchase shares, precious metals, foreign cash and alternative standard assets from Belarus, along with other countries, with cryptocurrencies.
Since its launch, the platform has reportedly issued around more than hundred several types of tokens, with each corresponding to a standard monetary instrument. The corporate expects to eventually grow this number to around 10,000.
As per Reuters’ article, the govt. of Belarus has exempted transactions with tokenized securities from taxation till 2023. However, once registering on the new platform, traders need to pass an Anti-Money Laundering [AML] verification procedure.
Reuters reported that the platform received around 2,000 registration applications within the first two hours from its launch.
Earlier in Nov 2018, Belarus High-Technologies Park, a national special economic zone dedicated to the IT business, established the foundations for the operation of the cryptocurrency market within the country.
Earlier in May, the country’s Minister of Communications and Informatization named ‘Sergey Popkov’ added that digital technologies are a prime priority for Belarus due to their ability to rework the economy, public administration and social services.
Even this year on 4th Jan., Estonian trading platform DX Exchange ‘declared‘ a product just like the one that was launched by Belarus. It reportedly permits cryptocurrency users to buy tokens that are backed by stocks of several major firms, together with Google, Facebook and Amazon.