The Liechtenstein Cryptoassets Exchange (LCX) is joining forces with the company Hedera Hashgraph. This partnership will aim to develop a new infrastructure for security tokens and tokenized digital assets.

The Liechtenstein-based crypto exchange LCX has agreed a partnership with the company Hedera Hashgraph. Together, the two partners intend to establish a new standard for security tokens and tokenized digital assets, as detailed in a press release. In so doing, their respective expertise is to be bundled with the aim of developing a new infrastructure.

“LCX is leading the way in creating blockchain-agnostic standards for the exciting area of digital securities”, explains Leemon Baird, Chief Technology Officer (CTO) and co-founder of Hedera Hashgraph, in the press release. Hedera will provide its public ledger. According to Baird, the network is characterized by its speed, security and fairness, as well as a low carbon footprint. The network will offer LCX and its customers the opportunity to issue and configure tokens on the Hedera platform.

“There is an immediate need for practicable standards for digital securities to help businesses around the world simplify and enhance how they issue security tokens, raise funds or establish new blockchain powered financial instruments”, comments Monty Metzger, CEO and founder of LCX. He regards the new partnership as a key milestone on the path to achieving this.

LCX is the first regulated exchange for cryptocurrencies and blockchain tokens in Liechtenstein. It has been in operation since August 2018 and is based in Vaduz.

An international alliance seeking to organize crypto applications such as smart contracts and distributed ledgers on a large scale is behind Hedera Hashgraph. In terms of companies, Deutsche Telekom, IBM and even Google, among others, have all signed up so far.

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