LCX Joins International Token Standardization Association (ITSA) to improve market standards for Tokenization of Assets

di LCX Team · June 17, 2020

LCX is building a compliant ecosystem for tokenization of assets and security tokens. Today, LCX announces to become a member at International Token Standardization Association (ITSA) joining a select group of global blockchain companies such as Acxit Capital Partners, Bitwala, Solaris Bank, Deutsche Börse Group and others.

LCX is a global fintech company that provides a range of products and services for the token economy in a regulated and compliant manner. Founded in 2018, the firm is headquartered in Vaduz Liechtenstein with additional offices in Switzerland and India. LCX Terminal is an advanced trading platform to trade on all major cryptocurrency exchanges within one single interface. Recently, LCX has announced the LCX STO Launchpad, which is an  end to end tokenization platform combining a technology solution with key compliance and legal aspects.

Constantin Ketz, Vice-Chairman at ITSA says: “Cryptographic tokens will soon play a major role in global capital markets. At ITSA, we intend to develop and provide token standards for market stakeholders, incl. startups, investors, corporates, and exchanges. Therefore, we are glad to welcome LCX as new member of our association, and look forward to working with this dedicated team on standardization issues relevant to the next generation of exchanges.”

“As we are establishing the infrastructure for compliant security tokens and tokenization of assets, we encourage every market player to work with the International Token Standardization Association (ITSA) as well. Tokenization refers to the digitization of the legal rights or ownership rights to an asset on Distributed-Ledger-Technologie (DLT) systems. For this process it is crucial to establish new market standards for the global token economy, and we are proud to contribute to ITSA and join as a member”, says Monty C. M. Metzger, CEO and Founder at LCX.

What is ITSA?

The International Token Standardization Association (ITSA) e.V. is a not for profit association of German law that aims at promoting the development and implementation of comprehensive market standards for the identification, classification and analysis of DLT- and blockchain-based cryptographic tokens.

As an independent industry membership body, ITSA unites over 100 international associated founding members from various interest groups, including industry associations, banks, stock exchanges, startups, universities, research institutes, law firms, tax advisors and other industry stakeholders.

In order to increase transparency and safety on global token markets, ITSA currently develops and implements the International Token Identification Number (ITIN) as a market standard for the identification of cryptographic tokens, the International Token Classification (ITC) as a standard framework for the classification of cryptographic tokens according to their inherent characteristics, and the International Token Database (TOKENBASE) as standard for the qualitative and quantitative analysis of these tokens.

Besides these projects, ITSA facilitates the internal exchange of thought through working groups as well as the setup of country and city charters. Externally, ITSA represents the interests of its members and acts as a sparring partner for standardization bodies, regulators, and government agencies.

Read official announcement by ITSA.

What is ITSA?