Exchange launches asset-backed coins for asset managers

ABCs will be tradeable on newly launched exchange Abacas Asset managers will be able to trade physical assets directly with each other without incurring multiple transaction fees through a new asset class dubbed asset-backed coins (ABCs), which represent assets and currencies in one, says Morgan McDonnell, chief operating officer for Abacas, the exchange for ABCs. Abacas, which launched on June 8, will allow managers to exchange assets without actually buying or selling them in one single transaction through ABCs, reducing.... more



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