Cryptocurrency startup Swarm has taken a significant step towards its goal to list tokens that enable investors to buy shares in fractions via Robinhood mobile trading platform.
The multi trading Robinhood platform offers a wildly-popular commission-free trading to its customers and had recently claimed its profits in Bln’s to the overall public through a conventional public listing.
Those hurdles, however, failed to forestall Swarm from finding the way to bring Robinhood shares to the general public anyway.
Through this deal of partnership with brokers and syndicate managers, Swarm has sourced equity from former Robinhood firm’s to help achieve its ultimate mercantilism, whose shares are listed on the Swarm platform as SRC-20 tokens.
In any case, these new tokens are available live on the Swarm platform, with market capiltalization holding at $1Mln in contributions. The chief operating officers of Swarm Fund ‘Philipp Pieper’ aforesaid in a statement mentioning:
“Secondary equities transactions and refinancing of legal entities that hold non public company equity aren’t new within the United States. What’s new here is that the tokenization of these assets are opened by the new doors of innovation.”
He further added:
“One of the key innovations of tokenization is that token holders can participate within the worth creation of the network of which they should be a part. Swarm is guiding this paradigm shift to corporations that would play a key role among this movement.”
At present, Swarm tokens are restricted to authorized investors who must demonstrate that they owe a net worth of at least $1 Mln or an earning above $200,000 USD ($300,000 USD combined if married) in each since the past 2 years and expect to meet that gateway in the present year as well.