Earlier this year Bithumb, a leading South Korean cryptocurrency exchange, announced the partnership with Nvelop Holding, a blockchain financial and investment group based in Abu Dhabi, to launch one of the first fully regulated licensed cryptocurrency exchanges in the Middle East. Bringing together proven track record, technology and deep liquidity among partner exchanges. With the phased approach, Bithumb & Nvelop will first launch a crypto-exchange with major tokens such as Bitcoin, Ethereum but also introduce POC tokens such as Burst, BXTB and following the comfort of the regulators upgrade into a Security Token Exchange, listing asset backed tokens which will can be considered as ‘digital representation of shares’. Nvelop and partners believe that this is the future of conventional finance and a key opportunity for the United Arab Emirates to access global liquidity.
The team behind this are a unique hybrid of traditional asset management and banking, married with blockchain technology pioneers, to bring together the future of finance with the support and systems of legacy compliance.
Tentative launch Q1 of 2020.