According to the official announcement dated October 23, 2019, digital currency exchanges HashKey Pro and Binance are set to list the Blockstack token called STX.
The leading crypto exchange in the world in terms of trading volume, Binance, will open STX trading for all the crypto enthusiasts on October 25, 2019, at 4 am (UTC). The trading pairs for STX on Binance would be STX/BNB (Binance Coin), STX/USDT (Tether), and STX/BTC (Bitcoin), reads Binance’s official announcement blog post. The exchange has already allowed the users to start depositing STX on the exchange.
HashKey Pro, the digital asset exchange based in Hong Kong catering to the institutional investors, will also be listing the Stacks token (STX) later this week.
In its official blog post, Blockstack revealed that their goal behind these listings is to expand the access to their network on a global level so that users can easily acquire STX tokens for usage on the network. In addition to that, they want the Stacks holders, as well as app miners, to enjoy convenient liquidity.
What’s important to note is that the Stacks tokens are only available for the non-US persons on HashKey Pro and Binance, per the Blockstack post. There are no authorized crypto exchanges or alternative trading systems allowing STX purchases and sales for the US investors.
HashKey Pro’s CSO, Ben El-Baz, revealed that the reason behind choosing STX token was their shared vision with Blockstack as both the entities consider regulatory compliance a positive development for the crypto industry. Continuing further, El-Baz opined that better disclosure of information could help users in acquiring a better understanding of the assets they are trading.
For those who are unaware, Blockstack PBC is a startup based on blockchain headquartered in New York, USA. Founded by Muneeb Ali and Ryan Shea in 2013, it became the first entity to have received the US SEC’s (Securities and Exchange Commission) approval for carrying out an ICO like offering back in July under Regulation A+. The firm succeeded in raising 23 million dollars, out of which, $7.6M came from investors in Asia.