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London-based cryptocurrency exchange CEX.IO considers supporting Security Token Offering (STO) as an innovative financial instrument.

According to a CEX.IO official, the exchange is testing the functionality and feasibility together with the partnering platform OKONTO that has already launched an EU-compliant STO for GTT tokens backed by Gett Taxi shares.

Oleksandr Lutskevych, CEO of CEX.IO claims STO to be an innovative instrument that allows both individuals and professional investors "to gain direct access to the international financial market."

"The support of tokenized securities by cryptocurrency exchanges may lower the barrier to entry, allowing individuals to participate in the offering with just a few hundred dollars, and therefore transforming the financial system as we know it. CEX.IO is willing to become a pioneer in this endeavor,” he added.

Previously iHodl reported that CEX.IO officially launched its services in the United States.

The exchange received a license from Money Transmitter Licenses to operate as an exchange in nine U.S. states, including Iowa, Kansas, New Mexico, Oklahoma, South Dakota, West Virginia, Maryland, Alaska, and New Hampshire.

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