Benzinga | Jan 10, 2022 08:39AM EST

DSS Reports Its USX Holdings Unit Retained A Leading Blockchain, Digital Assets, Custody Law Practice Related To Co.'s Broker-Dealer, Alternative Trading System To Prep For Launch In Trading Digital Assets In US

DSS, Inc. ("DSS" or the "Company") (NYSE:DSS), a multinational company with nine operating business lines in diverse, high-growth industries, today announced its USX Holdings Company, Inc. ("USX Holdings") subsidiary has engaged a leading blockchain, digital assets, and custody law practice in connection with its broker-dealer and alternative trading system ("ATS") as it prepares to launch an innovative marketplace for trading digital assets based on actively traded U.S. equity securities.

In addition to the ATS and broker-dealer registration, USX Holdings, in conjunction with its legal team, will file regulatory submissions and registration statements for digital assets to be traded on the proprietary trading platform. USX Holdings is also applying for money transmitter and virtual currency activity licenses in several states to offer trading in cryptocurrencies.

"We look forward to working with our legal team as we move forward on our plans to launch a digital asset exchange targeting corporate issuers, retail traders and investors, crypto hedge funds, proprietary trading firms, and other financial intermediaries. Working with the top law firm in the blockchain space will enable us to accelerate our rollout of this groundbreaking initiative," stated Jason Grady, COO of DSS. "The transformative potential of digital securities is extremely exciting, and we plan to be a major player in the space as we pursue the massive opportunity in the US for a secondary market in securities tokens."

According to a survey from the World Economic Forum, 10% of the world's GDP will be tokenized by 2027 with an estimated market capitalization of $24 trillion. With increased clarity in the regulatory framework and many positive developments in the industry, such as wider adoption of digital assets from financial institutions and innovative digital security offerings from large enterprises, both asset tokenization and digitized securities are gaining strong momentum for new growth in the financial industry.

USX Holdings is pursuing FINRA registration as an ATS in a joint venture collaboration with Coinstreet Partners, a global decentralized digital investment banking group and digital asset financial service firm, and GSX Group, a global digital exchange ecosystem for the issuance, trading, and settlement of tokenized securities, using its proprietary blockchain solution.