trade.io Enters MOU to Buy a US Regulated Broker Dealer

The company said it wouldn't fund the acquisition by the PRE-ICO's funds.

Zug Switzerland trade.io has entered into a memorandum of understanding to negotiate the ‎terms for the acquisition of a New York City based broker/dealer.‎

The ‎acquisition of the broker dealer, which currently holds the SEC registration and FINRA membership, will be subject to regulatory approval by the U.S. regulators and other customary terms.  ‎

The step marks an important step in the buildup of trade.io’s international ‎presence and paves the way for the company to tap business lines of the ‎acquired broker dealer to operate its contemplated U.S. oriented investment ‎banking services in a regulatory compliant manner.‎

With this important initiative, trade.io demonstrates its commitment to build up and ‎expand its global business, as well as improving the functionality and governance of ‎blockchain technologies.‎

After the successful completion of its pre-ICO, in which $12 million was ‎raised out of an expected total of $135 million, the disruptive platform swung into ‎action by attracting additional adapters and listing on exchanges. However, trade.io confirms that it wouldn’t use any amounts of the funds it raised through ICO to fund the acquisition deal.‎

Trade.io is a disruptive solution that aims to leverage the full potential of blockchain ‎technology to create a peer-to-peer trading platform for crypto assets. Furthermore, it plans ‎to subsequently introduce forex and CFDs for precious metals, oil, commodities, indices, ‎global equities and more.‎

Last week, the P2P blockchain startup announced the listing of its TIO tokens on the European cryptocurrency exchange ‎HitBTC‏.‏ The inclusion of the TIO tokens on the exchange reflects the growing demand for the new ‎instrument. On this platform, TIO will be convertible against the pairs Ethereum and Bitcoin‏.‏

Commenting on the news, trade.io CEO Jim Preissler stated:”As the trade.io community ‎and the rest of the blockchain community has realized, we are very aggressive when it ‎comes to preparing to execute on our initiatives.  We are simply not waiting for our ICO to ‎be over to start moving, we are and have been making strategic moves for months now‏.”‏

He also noted that, “Being ‎able to conduct trade.io’s business in the United States in a regulatory compliant manner is ‎critical.  The broker/dealer will afford us with tremendous opportunities and unlock many ‎sources of revenue potential‏.”‏

 

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