NEW YORK, Feb. 9, 2021 /PRNewswire/ — Document Security Systems, Inc. (NYSE American: DSS) (“DSS”), a multinational company operating businesses focusing on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, today announced it entered a joint venture (“JV”) with Coinstreet Partners (“Coinstreet”), a global decentralized digital investment banking group and digital asset financial service firm, and GSX Group (“GSX”), a global digital exchange ecosystem for the issuance, trading, and settlement of tokenized securities, using its proprietary blockchain solution. This JV collaboration forms a unique partnership of three key leaders in their field, combining traditional capital market experience, Fintech innovations, and business networks from three continents, North America, Europe, and Asia, to capitalize on unique digital asset opportunities.
The newly formed JV will first pursue a digital securities exchange license in the US. Moving forward, this JV will be the key operational company building and operating a digital securities exchange that utilizes the GSX STACS blockchain technology, serving corporate issuers and investors in the sector.
Frank D. Heuszel, CEO of DSS, commented on the news of the new JV, saying:
“We have been looking for the right opportunity to accelerate our digital asset business and believe this collaboration will provide a strong foundation for success. The transformative potential of digital securities is extremely exciting, and we look forward to pursuing the massive opportunity in the US for a secondary market in securities tokens.”
A key facilitator in the new JV, Samson Lee, Founder & CEO of Coinstreet Partners commented:
“For the past 4 years, Coinstreet has been focusing on primary market activities for STO and digital assets in the international market. We are delighted to establish a strategic partnership with DSS and GSX to develop a digital asset exchange in the US. This is a major step forward for Coinstreet, and it will allow us to vertically integrate our primary market services with regulated secondary trading venues in the US, which is a very important market for us.”
Nick Cowan, CEO of GSX Group, added on the deal’s conclusion:
“Through this strategic joint venture, we are realizing our vision to establish a paradigm shift in the capital markets. With the help of our new partners, DSS and Coinstreet, and using our underlying bespoke blockchain for securities, the GSX STACS network, we believe this new exchange will provide some exciting opportunities for US and global issuers.”
According to a survey from the World Economic Forum, 10% of the world’s GDP will be tokenized by 2027 — with an estimated market capitalization of US$24 trillion. With increased clarity in the regulatory framework and many positive developments in the industry, such as wider adoption of digital assets from financial institutions and innovative digital security offerings from large enterprises, both asset tokenization and digitized securities are gaining much momentum for new growth in the financial industry.
Through their JV collaboration, DSS, Coinstreet Partners, and GSX Group could become the next digital asset exchange to secure FINRA registration as an alternative trading system (ATS).
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About Document Security Systems, Inc.
DSS is a multinational company, operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of US$25 billion.
For more information on DSS visit http://www.dsssecure.com.
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