LO:TECH raises $12 million to expand crypto trading in US, Asia
LO:TECH has raised $12 million to take its crypto trading business into the U.S. and Asia, betting on round-the-clock tokenized stock trading.
LO:TECH has raised $12 million to expand its crypto trading business into the United States and Asia, the company announced.
The startup is betting on round-the-clock trading of tokenized stocks, meaning blockchain-based versions of shares that can change hands outside normal exchange hours. It did not say, however, whether it already trades such products today.
Exchanges still set the price
The pitch comes with a caveat from industry research. A study by the World Federation of Exchanges (WFE) found that traditional stock exchanges still set the prices of the underlying shares. That suggests tokenized versions depend on price discovery that continues to happen on established venues.
For readers, the open question is how much independent trading value a 24/7 market can add if prices are still anchored to exchange sessions. The funding gives LO:TECH room to test that idea in two large markets, but the company has not detailed which products it will launch or when.
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