The major US-based crypto platform – Coinbase – has reportedly announced intentions to become the regulated broker-dealer and acquire California-based Keystone Capital.
As commented the company operational director, they are working with the regulators in order to receive the license for the broker and e-trading activities.
"If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This step forward is being made possible by our acquisition of a broker-dealer license (B-D), an alternative trading system license (ATS), and a registered investment advisor (RIA) license," the company blog reads.
As a result, the company will become able to offer blockchain assets with securities value. Moreover, Coinbase is also cooperating with the authorities willing to get an approval for tokenization of different assets. This is believed to facilitate the access to capital markets for private investors as well as to reduce costs and improve the market transparency. After
"...we believe this is an important moment for the crypto ecosystem, and yet another indication of the maturation of the crypto economy."
The company intends to become "the most trusted" buy-sell service with a wide range of cryptocurrencies and other assets in the list, and successul passing the certification will bring it closer to that target.