Binance and Hashkey Pro list Stacks tokens following Blockstack’s historic SEC-qualified token sale
Blockstack PBC, the privacy-centric, decentralized computing network, has announced its first listing on Binance, the world’s largest crypto-exchange by market volume, as well as on HashKey Pro, the institutional exchange of leading Hong Kong fintech group HashKey. The listings follow Blockstack’s historic SEC-qualified token sale to retail investors, and its strategic investment round in Asia, which raised a combined $23M.
The Binance and HashKey Pro listings are expected to increase access to Blockstack’s token, Stacks (STX), globally. Trading will be available to non-U.S. persons only due to legal restrictions in the U.S. STX may be used as fuel on the Blockstack network for registering digital assets like usernames, domains, storage pointers, podcasts, and more.
Muneeb Ali, CEO, Blockstack PBC, said: “I am continuously impressed by the speed of Binance’s execution. It is not only the largest crypto exchange, but also rapidly innovates on new financial products. Its strong focus on building communities also aligns closely with Blockstack, as we have one of the fastest growing developer communities.
This year, Asia has been a big focus for us, and we recently held a strategic investment round in the region, helping to further expand our presence in the region. Binance has a strong presence globally, but in particular, has wide distribution throughout Asia, which is a priority region for Blockstack.”
In addition, Hashkey Pro, the institutional grade exchange for sophisticated investors, will list STX.
“Hashkey Group’s focus on regulatory compliance in Hong Kong also complements our regulatory framework. The goal of both listings is to increase access to the Blockstack network globally, and users should now be able to easily acquire STX for use on the network” said Ali.
On the heels of partnering with Blockchain.com to bring Blockstack apps to new users, the first listings signify Blockstack’s ongoing work with the leaders in crypto to continue putting people back in charge of all aspects of their online lives, including their money, identity, and data.
These listings also represent an important milestone for Blockstack, as the Stacks token are intended to help create a shared economy around the network and between users of the technology.
Binance CEO, Changpeng Zhao (CZ) said: “The Binance community is broadly interested in projects that have real technical breakthroughs and help the world move towards a decentralized future. Making Web 3 real is a goal we share with the Blockstack team. We’re excited to give our users access to the Stacks token so they can use them on the 250+ apps built on the Blockstack network.”
The listings follow a number of major developments for Blockstack in 2019, including its SEC-qualified token offering, partnership with industry giant Blockchain.com to integrate Stacks across Blockchain’s full suite of products, the expansion of its App Mining program, which is expected to reward developers up to $1M total in Stacks (STX) per month by May 2020; its Asian strategic round led by HashKey and SNZ, with participation from Fenbushi, Fundamental, Spartan Group, and other top Asian funds; a partnership with Lambda School, which will provide every Lambda student with the opportunity to learn to build on Blockstack; and a strategic investment from Recruit Holdings, one of the biggest Japanese internet companies, to help bring privacy-focused apps to the Japanese market.
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