The two companies are backing this new project, namely- VP Capital and Larnabel Ventures. As per the news report, Belarus government is yet to comment regarding the platform launch, however, it is already out by BelTa, the state news agency.
This platform will now let traders purchase shares, foreign exchange, precious metals, along with several random traditional assets right. They can make trades directly from Belarus, or any other countries operating with cryptocurrencies.
The news cover says that it will currently issue 150 distinct types of tokens. Here each token corresponds to its traditional financial instrument. However, the company hopes to eventually raise this number to around 10,000.
The Belarus government also releases transactions from taxation with tokenized securities until 2023. Though, while registering on this platform, traders need to pass an Anti-Money Laundering verification process. The report mentions that it retrieved around 2,000 registration applications. This was just in first two hours after the launch.
Back in November, a national unique economic zone, Belarus High-Technologies Park introduces the rules for operating cryptocurrency market within the country. Also, in May, Sergey Popkov, the Minister of Communications and Informatization says digital technologies to be a top priority for Belarus looking into their ability to revolutionize the public administration, economy, and social services.
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