The announcement made by Riatlo, a next-generation Alternate Trading System (ATS) on August 23. The company revealed that the two platforms have submitted applications for approval by relevant regulators. Absent from the publication was the time, it will take for approval.
Rialto currently runs a regulated Alternate Trading System (ATS) for trading income products. It also intends to expand its trading tools to blockchain-based securities. Hence, the partnership with Bittrex who are experts in blockchain technology, cryptocurrency, and cybersecurity.
Following the announcement, Rialto trading CEO Shari Noonan commented on the partnership and expressed excitement on the prospect of being able to expand their services to include digital securities as well as an advanced and reliable trading platform.
In response to the comment made by Noonan, Bittrex’s CEO Bill Shihara expressed optimism in the partnership, which he believes will create a venture that is positioned to advance Blockchain adoption. Shihara commended Rialto’s securities industry experience. Further expressed that it takes partnership like this to create an efficient, reliable and secure platform.
An invitation for accredited institutional investors, digital security issuers, and American-registered broker-dealer who are interested in being listed on the platform to register on Rialto’s website were mentioned in the announcement.
Rialto’s Proposed Platform.
The proposed platform (if approved) will combine Bittrex’s expertise and Raiola’s licensed ATS tools. It is to create a state of the art securities offering. It will list cryptocurrencies that are registered securities with the U.S. Securities and Exchange Commission (SEC). In addition to this, services to the entire securities ecosystem like trading and custody, issuance advisory and placements will be provided by the platform.
However, the future of these project rests on the outcome of the talks between these companies and regulators.