BSTX has scored regulatory approval to launch a blockchain-based securities exchange, subject to the exchange joining national market system plans.
BSTX targets to offer an immediate or accelerated settlement, with transactions made on the blockchain. It will also provide market data on the blockchain, on which the exchange will run.
The exchange will welcome retail and institutional investors and is set to be fully regulated with modern tools for issuers and investors. It is working to support crypto markets in the long term.
The Securities and Exchange Commission said BSTX will be required to be part of an intermarket surveillance group used to coordinate regulatory compliance. It will also be required to join relevant market system plans.
SXTC Chief Executive Lisa Fall said the exchange plans to roll out more innovations that will benefit both the issuer and trading communities.