Constellation Network Signs LCX to Ramp Up New Listings
The collaboration will see LCX supporting the listing of tokens created using the Constellation Network’s L_0 token standard.
Constellation Network, a San Francisco based big data and blockchain company, has entered into a partnership with LCX, a regulated Fintech startup based in Liechtenstein. Together, Constellation and LCX will leverage each other’s legal and technology infrastructure to expand their respective businesses and provide new and enhanced services.
The collaboration will see LCX supporting the listing of tokens created using the Constellation Network’s L_0 token standard. Further, LCX will integrate native wallets to list two associated tokens, $DAG and Lattice Exchange token (LTX), on its own platform.
The deal with LCX is the latest milestone to bolsters the adoption for Lattice Exchange, which has already come a long way since launching last year. Specifically, LCX will seamlessly offer a path for tokens minted on Constellation’s Network to be listed and traded in a regulatory compliant environment.
Both entities have also agreed on a long-term strategic partnership that will focus on collaborative research and development of new use cases for Constellation’s HGTP protocol. LCX, which holds a license to conduct crypto business in Liechtenstein, aims to leverage its regulatory approvals to build a state channel that validates trade data.
Tapping into Constellation’s Hypergraph will be focused on making rigorous upgrades of the LCX platform and its products. The network, which enables a secure and structured way to store and invest in different digital assets, brings trade and transaction transparency to LCX infrastructure.
Constellation Upgrades Regulatory Profile
Commenting on the news, Monty Metzger, CEO and Founder of LCX.com, said: “Crypto is all about scale. Constellation has built the infrastructure to scale fast and build a profitable network for all stakeholders involved. Now LCX users will become stakeholders of the Constellation Network as well and will enjoy its benefits.”
As unveiled in a statement today, the combined effort should also bring many of the benefits of DeFi to the LCX centralized exchange.
Involving a regulated business such as LCX also upgrades the regulatory profile of Constellation’s business. The firm is required by Liechtenstein’s Blockchain Act to adhere to stricter money laundering supervision, implement the FATF standards and advanced due diligence.
In this sense, Benjamin Jorgensen, Co-Founder and CEO at Constellation Network ($DAG) and Lattice Exchange ($LTX), said:
“In order for our L_0 token standard to compete against the other token standard in the crypto industry, we need regulatory compliant and trustworthy centralized exchanges like LCX.”
He continues:
“Partnering with LCX paves a path for success for anyone building on Constellation’s ecosystem. This will give projects that build on Constellation and list on our DeFi Platform Lattice, assurance that their token has a path to being freely traded and supported from centralized exchanges like LCX. LCX is leading the way to mainstream adoption of cryptocurrency by providing the support needed for institutional traders and blockchain technology.”
Disclaimer: Do your own research related to the promoted company or any of its affiliates or services mentioned in the article. Coingape.com does not hold any responsibility for your damage or loss.
Source: Read Full Article
