Björgvin Þór Þorsteinsson, co-founder and CEO of Web 3.0 firm Myntfund, has announced the launch of MyntExchange in February, 2023. The exchange will allow investors to purchase shares in unlisted companies using cryptocurrency, bridging the gap between the public-crypto-Stock markets.
MyntExchange is the world’s first joint crypto/stock exchange, and it operates under a Myntcoin-owned, licensed, and regulated Swiss vehicle. According to Björgvin, the exchange’s purpose is to market the MyntCoin security token and give investors a unique way to directly invest in unlisted, growing companies, by tokenizing their shares and offering them to the crypto market.
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MyntCoin is a fund-invested security token, where all net proceeds of the sale are invested in partnership with reputed funds, with the token representing ownership in these funds. MyntCoin pays dividends from these investments to investors in the form of a new issue of MyntCoin Token. The token is created on the Ethereum ERC-20 blockchain and will be listed on MyntExchange upon its launch in February, 2023. MyntCoin will also be listed via a legal entity IPO on a public market this year, with the final date to be announced in the coming weeks.
Our first listing is the MyntCoin security token, followed by a listing of an unannounced market-leading company with a valuation of $500 million,” Björgvin said. “There is a lot of interest in listing on MyntExchange, and we have been approached by several reputed companies with a combined valuation of over $5 billion.”
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Aside from security token MyntCoin, MyntFund also issues utility/payment token MyntPay, a standard ERC-20 token that is tradeable on major cryptocurrency exchanges. MyntPay will be the sole currency accepted on MyntExchange, and it can be purchased with both fiat and top cryptocurrencies. MyntPay was listed on Coinstore.com on January 18 under the trading pair MYNT/USDT, MyntPay will also be listed on P2B Exchange in February 2023. Our mission to get MyntPay listed on the top 50 Exchange in 1-1,5 years.
According to Björgvin, users of the Mynt ecosystem can use MyntPay to purchase MyntCoin on MyntExchange, as well as goods and services from partner businesses that join the ecosystem. This grants the MyntPay token holders the opportunity to take advantage of the speed and security of the blockchain when making their payments as well as transfer funds securely – without the involvement of unnecessary third parties.
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