LCX finally announced entering into a strategic partnership with Hedera Hashgraph to expand the Liechtenstein Protocol of the Hedera Network. The collaboration seeks to develop a novel standard for the digital tokenized assets and security tokens of the Hedera network. Through the partnership, LCX also seeks to add more support to the establishment of new standards for HBAR, the cryptocurrency of Hedera, at the LCX Exchange, according to the Hedera Hashgraph price prediction.
The Blockchain Network of Hedera Hashgraph seeks to leverage the infrastructure of the LCX platform for the expansion of Hedera Token Service by incorporating new standards for the security tokens. The expanded token service of Hedera shall provide reliable, transparent, and secure digital security tokens to the users in compliance with the LCX infrastructure.
The token service of Hedera Hashgraph (HTS) seeks to acquire the advantages of the Liechtenstein Protocol that include on-chain management of assets, tokenization of assets, and compliance. The Liechtenstein Protocol sets the new standard of enforcing regulatory compliance at the level of tokens and Blockchain. The Blockchain-agnostic protocol seeks to create a framework for secure tokenization to empower the success and growth of tokenization of assets. The co-founder and CTO of Hedera Hashgraph, Leemon Baird, is pleased with how LCX is paving the pathway for creating Blockchain-agnostic standards.
HTS will also be able to provide Blockchain-based organizations with the support necessary for developing frameworks for creating novel security tokens at the public ledger of Hedera. The new framework will enable the automatic enforcement of specific conditions related to security assets’ regulatory and legal requirements. It will also enable automatic compliance of tokenized assets with predefined regulations present in the source codes.