The Financial Institutions Regulatory Agency (FINRA) approved the status of the crowdfunding platform SeedInvest as an alternative trading system (ATS). Now it will work as a secondary market for shares of private companies, which will allow investors to trade their shares in startups.
This is a new form of investment policy . https://t.co/RhzQfsBjhN
– Circle (@circlepay) April 26, 2019
Recall that the issuer of the steablcoin USDC and the Bitcoin exchange operator Poloniex, Circle, completed the purchase of SeedInvest at the beginning of last month, but the conditions were not disclosed.
As stated in Circle, obtaining an ATS license once again confirms the company's intention to cooperate with regulators in developing new products to improve the financial system with full legal compliance.
SeedInvest was established in 2012. During its existence, the company has helped other startups to raise funds totaling $ 120 million.
Earlier it also became known that Circle intends to raise $ 250 million in the next round of financing.
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