Estonia based digital assets exchange, LAToken, is a trading platform that cuts a new niche into the crypto currency exchange segment of the industry. Formerly named AIBanks Zalogo, LA Token is a decentralised crypto trading platform which enables the tokenization of real-world assets.
From enterprise equity, to gold, art or realty, all can be traded alongside digital currencies on the platform. Essentially falling into the DEX (Decentralised Exchange) category, LA token is a block chain based exchange platform.
Founded by one Valentin Preobrazhensky, the exchange launched in 2019. Currently it is one of a few digital asset exchanges based in the Baltic region. The platform allows for the global transfer of funds, the raising of funds through the IEO (Initial Exchange Offering) token sale model, as well as Investment – in either crypto currencies or equity in real-world assets.
Aside from having it’s own native exchange token, LA Token, the platform offer a number of popular digital assets. Bitcoin, Ethereum, Augur, EOS, Vechain, Tron, TenX, and USDT among others, are available for trade on the LA Token platform.
In addition to listing digital currencies, the platform is also designed to enable the tokenization of real-world assets, and plans to bring fine art, stocks, and real estate to block chain. Having tested blue chip stocks like Apple, and Amazon, as well as commodities like oil, silver and gold, the team behind the platform plans to enable micro investments, through tokenization of said assets.
Thus giving cryptocurrency enthusiasts the opportunity to supplement their portfolios with real-world assets. The platform, however, does not support fiat trading and seeks to make up for that, with popular US Dollar backed stable coin, Tether (USDT).
Being a blockchain based platform, security is a major focus for the LA Token exchange. User passwords, stored on the system’s database are encrypted using a ‘salted’ version of the SHA-256 algorithm (similar to the algorithm that secures Bitcoin), while all wallet private keys employ AES-256 encryption and are stored offline.
According to the LA Token website, 99.5% of user funds are stored offline in multi-signature cold storage wallets, and data transmitted on the platform is secured with TLS (Transport Layer Security) encryption.
The LA token system is also set up to protect against DDoS attacks that would seek to adversely influence trading on the platform, as the system employs advanced distributed architecture – according to their website. Fund withdrawals and changes in system settings also require two-factor authentication to complete.
Look & Feel
The platform features a simple, and easy to navigate layout that even an orangutan could use with little effort, which is a big plus for a platform that offers this much variety in terms of investment options. The charts could stand to offer a few more tools for more advanced traders, however.
Is It Legit?
Though based in Estonia, the platform (according to information on its website) is registered, and operates under Cayman Islands regulations.
This has been a point of controversy in recent times, as companies registered offshore are usually viewed as being fraudulent or having something to hide. The company aims to address this issue by registering in their native territory. “Now we’re working on acquiring all necessary licenses for a full-scale trading of asset tokens.” – claims their website.
Is Elon Musk Involved?
Running alongside the aforementioned controversy, is the rumour of eccentric billionaire, Elon Musk’s involvement in the project. Perhaps inspired by the fact that Telsa shares where tokenized during the testing of the platform’s liquid asset-backed tokens (LABT) feature, the rumour has persisted.
We looked into the possibility, and could find no conclusive evidence to support these whispering’s, however.
LA Token is a phenomenally easy to use platform that employs Directed Acyclic Graph (DAG) technology, similar to what underpins the IOTA crypto-currency. The result is a higher transaction throughput than most decentralised platforms, which indicates that developers anticipate a lot of users (the platform already has over 300,000 register users) and have geared LA Token to process transactions almost instantly.
The noticeable absence of margin trading or a mobile app for on-the-go trading are a bit of a let-down however. That and the lack of advanced charting tools.
Aside form that, the platform truly has a lot of potential and could lead the way, in terms of the development of a tokenized economy that allows micro-investors to grab a piece of the equities and commodities pie.
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