Exodus earlier this year sold $75 million of the company’s common stock, which can only be purchased through its portfolio.

The sale from Exodus was interesting due to the company’s decision to accept only Bitcoin, Ethereum and USDC as the payment method for the shares offered.

Exodus has described the SEC-approved stock sale as the largest regulated public offering of cryptocurrency ever.

According to Exodus, it will soon convert those sold shares into Algorand-based cryptocurrencies, which contributors can claim using the Exodus Wallet.

The blockchain-based transfer agent Securitize has partnered with Exodus and Algorand to issue shares in the form of security tokens.

Exodus will become one of the few companies that convert real stocks into security tokens that can be traded on the crypto markets.

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As a reminder, the “Algorand” project is a blockchain that uses a Proof of Stake mechanism that aims to compete with Ethereum to improve speed and scalability.

And just like Ethereum, the Algorand blockchain supports smart contracts, and code that enables applications to build on top of the blockchain.

In addition, tokens and cryptocurrencies besides the original ALGO cryptocurrency can also use the “Algorand” blockchain.

In this case, the Exodus common stock tokens, which stands for EXIT, will be tradable cryptocurrencies.

In a press release, Mr. Sebastian Milla Goni, COO of Exodus, said:

This exciting partnership allows us to get even closer to opening secondary trading in the near future.

In other words, the company wants EXIT holders to be able to sell their shares in the company using the blockchain infrastructure.

tZERO, the digital securities arm of Overstock.com, is set to trade these tokenized shares, as well as shares of the retailer Overstock and St. Regis Aspen”.

It is likely that Exodus will first make sure that its papers are in order before EXIT becomes tradable.

While the public sale of Exodus is in some ways similar to an initial coin offering (ICO), the popular investment model for cryptocurrency startups in 2017, there are currently key differences, namely:

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• First, the A+ stock sale is approved by the US Securities and Exchange Commission.
• Second, holders of cryptocurrency are also stockholders, which gives them a share of legal ownership in the company.

Last March, Goni said: to source By saying:

Think of this as the 2021 version of the ICO – compliant, transparent, and offered by a profitable company with a product that already works.

Read:The price of the digital currency NEAR achieves a new record after the closing of the project’s financing round

For information, “Exodus” is not the first to have its shares encoded in the form of digital currencies, but there are many trading platforms, including the Binance platform, which provides the ability to trade shares encrypted in the form of digital currencies, and among the shares currently available in Binance in the form of digital currencies is the share of “Tesla” company And “Queen Piece”…

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