Swarm Offers Fiat Gateway to Security Trading Platform

[Leonardo]

The Swarm platform has begun allowing users to commit funds in 30 worldwide currencies. The full fiat gateway was achieved in a partnership with Mercury FX, Swarm announced in a press release on December 7.

“It’s become obvious that familiarity and trust are key to investors in order to create adoption for digital securities. Fiat gateways create that reliable and convenient entry point, so that people can now commit their fiat currencies against the investment opportunities on Swarm,” said Philipp Pieper, CEO and Co-Founder of Swarm.

“The team at Mercury FX brings the experience, scale, and global reach to make this happen for investors.”

Mercury FX was established in 2007 and has extensive experience in building forex trading platforms for third parties. The Swarm marketplace will continue to expand its token selection and offer fiat gateways for more assets.

“Swarm’s  open technology is a perfect compliment to Mercury FX, and they share our mission of constantly finding better ways to safely connect people and their money,” said Alastair Constance, Founder of Mercury FX.

The partnership is one of the early attempts to create an exchange for security tokens. As the security token offering model is just picking up, marketplaces are still being created. The Swarm marketplace is now live, with The Art Token (TAT) being the first one to be traded. Recently, Open Finance Network (OFN) opened its security token platform, as well as Extauri, the European marketplace that also offers a fiat gateway.

The news of opening a marketplace lifted the stagnant price of Swarm (SWM), rising from $0.09 up to $0.26 within the past week. SWM traded above or near the $1 level during boom times in March and June 2018, but the bear market took its toll and the token price fell. Now, the new trend of security token trading has revived the asset and lifted it from its lows.

Source: https://cryptovest.com/news/swarm-offers-fiat-gateway-to-security-trading-platform/