Belarus has launched a platform allowing traders to buy shares, gold, foreign exchange and other traditional assets with cryptocurrencies from Belarus and other countries.
Belarus’ Currency.com platform is described as the world’s first regulated tokenized securities exchange.
The project was launched by two investment companies, VP Capital headed by Viktor Prokopenya and Larnabel Ventures of Said Gutseriev.
“This is the first platform in the world where crypto investors will be able to diversify their investments into real assets,” VP Capital’s owner Viktor Prokopenya told Reuters.
One can buy tokens using cryptocurrencies via website or app. The tokens track the value of assets in Belarus and abroad. Moreover, the transactions with tokens are exempt from tax until 2023.
Since its launch, the platform has reportedly issued 150 different types of tokens corresponding to traditional financial instruments. The company plans to increase the number to 10,000. This makes the Belarusian project the first of its kind, the owners say.
“We believe that this project will allow Belarusian companies to attract additional funding both domestically and externally,” Viktor Prokopenya added.
Among other things, the platform offers the sale of shares in companies like Apple Inc (AAPL.O), gold, oil and metals. Within the first two hours, it received 2,000 applications for registration.
When registering on the platform, traders will have to pass a verification procedure to guard against money laundering. Currency.com will also provide ICO (initial coin offering) and TSO (tokenized securities offering) issuance services.
Recall that the residents of Belarus High-Tech Park (HTP), a national special economic zone for the IT industry, were granted tax breaks until 2049. Some provisions of English law were introduced, and foreign HTP residents got the opportunity to work without a special permit and a visa for half a year.
The list of resident activities was supplemented with cryptocurrency exchanges, cryptocurrency exchange operators, mining, eSports, etc. Smart contracts, the blockchain, mining and tokens were legalized.
Featured image: REUTERS/Vasily Fedosenko