Portal Affiliates with HighCircleX to Tokenize Pre-IPO Shares
2022.04.25 17:32
Portal Affiliates with HighCircleX to Tokenize Pre-IPO Shares
- Portal announces partnership with HighCircleX.
- The collaboration helps in tokenizing shares in pre-IPO companies on the Bitcoin network.
- Via this partnership, Portal users will have access to tokenized securities.
Portal, a Bitcoin-built cross-chain Layer-2 DEX, has announced that it is teaming up with blockchain-based asset marketplace HighCircleX. This partnership seeks to aid in tokenizing shares in pre-IPO companies such as SpaceX, Klarna, Automation Anywhere, Cross River Bank, and Epic Games on the Bitcoin blockchain.
Furthermore, the tokenization of equity in private, pre-IPO companies will increase the utility of the Bitcoin blockchain and help bring liquidity to illiquid assets. Both will be achieved as Portal continues to add layers of applications on top of it.
Through this partnership, registered Portal users will have smoother access to tokenized securities in one wallet. It will then raise the number of available investor bases for HighCircleX.
Observing this celebrated collaboration, Dr. Chandra Duggirala, the Executive Chairman of Portal, remarks that Portal is providing real-world use cases to Bitcoin. He further states:
Eventually we will see tokenization of many more financial assets onto the Bitcoin blockchain. Although these assets are not bearer assets like Bitcoin, having both digital asset securities and non-security digital assets available through a simple interface for users who meet accreditation investor criteria marks the beginning of merging Bitcoin ecosystem with mainstream finance. This also fixes the problem of liquidity fragmentation across many different exchanges and applications.
Meanwhile, HighCircleX CEO Hemanth Golla explains how HCX makes it easier for investors to invest in private equity offerings. Golla also said, “It gives members instant access to fractional ownership of stocks in the hottest companies. We believe that tokenization and fast, easy tradability that come with it will unlock and expand this market tremendously.”
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