Binance, one of the major cryptocurrency exchanges, is getting ready to increase its token offering by listing Blockstack (STX).
The cryptocurrency exchange will list STX/Binance Coin (BNB), STX/Bitcoin (BTC) and STX/Tether (USDT) trading pairs tomorrow. However, customers of Binance can deposit STX before trading begins.
Other than getting listed on Binance, STX will also be listed for trading on Hashkey Pro, an institutional level platform. Blockstack has pointed out that there are currently no authorized exchanges or any other platforms for the US based investors to purchase the token.
The blockchain focused Blockstack was the first crypto token offering to be given a green signal by the US Securities and Exchange Commission (SEC) and conduct a $23 million investment raising phase under Regulation A+.
Muneeb Ali and Ryan Shea, founders of Blockstack, expended $2 million and 10 months to receive approval from the SEC for a Reg A+ offering. Ali stated that Blockstack had to build a covenant for conducting a regulated ICO (initial coin offering) via Regulation A+.
Regulation A+ is an IPO (initial public offering) replacement focused on startups that require seed financing. Regulation A+ financing was unveiled in 2012 through the “Jumpstart Our Business Startups Act.”
It can be remembered that Blockstack was collaborating with Lambda, a skills based school, where students are taught coding Blockstack apps and generate revenue on a monthly basis via its App Mining Program.
As per Lambda CEO Austen Allred, the collaboration with Blockstak “gives Lambda School students a direct path for gaining real-world development experience while earning additional income for their work.”
