As the nascent cryptocurrency market remains to obtain tractions around the globe, talents from legacy sectors have started to flock to remarkable crypto-centric or blockchain startups. Just recently, the previous chief operating officer (COO) of PayPal David Sacks has joined an advisory position at the well-deemed and famous Ox project, according to Fortune.
Based on the report, Ox, a famous and highly recognized provider of decentralized exchange system/protocol has just released a formal partnership along with Harbor. Harbor is a regulatory compliance platform intended at specific forms of security tokens. Together with building a working relationship, the moves notice the PayPal mentioned above COO who supports Harbor, take a position on the advisory board of Ox.
Showing his excitement for the news, Sacks issued a tweet telling that he was very thrilled to join the advisory board of @OxProject. A lot of people perceived the collaboration as a good indication. That’s because several advocates of emerging technologies think that securities tokens will only drive adoption, growth, and maturation of the crypto space in the following years. The CEO of Ox, Will Warren who is obviously a conformist advocate for securities tokens also expressed his hopes for the subset of crypto assets.
According to his statement that in the following years, there will be a huge shift away from securities which are in closed systems. These systems are hard to access and highly regulated. There will be a much more open system wherein trading sites are less critical. He also added that if that takes place, there should be a security token tech stack.
On the other hand, Josh Stein, the CEO of the Harbor, caught attention to the fact that Harbor and Ox are matching of each other. That makes it obvious that the two companies must benefit mutually from the previously established bond.
According to him, OX and its developing network build the chance to connect sellers and buyers around the globe. Harbor makes it simple for investors and issues to follow by current rules and regulations across jurisdictions. It can be obtained by handling the regulatory compliance challenges of tokenizing every private security.
According to Sacks, the industry of real estate will be the initial legacy market and asset class to notice a shift in blockchain-centric systems. Even in the face of good news, it has become clear that the native crypto asset of the OX which is ZRX feel in correlation along with the rest of the market.
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