Global Liquidity and Settlement System (GLASS), a decentralized network of crypto trading platforms, to pool liquidity and enable compliant settlement of cross-border digital securities transactions.
GLASS will be the shared compliance and settlement infrastructure of member exchanges. The network will route digital securities transactions from exchanges to licensed broker dealers in jurisdictions where their clients are resident for settlement. As a result, member exchanges can facilitate legal transactions in all jurisdictions while minimizing their compliance costs. When a member exchange matches a buyer resident in a foreign jurisdiction in a digital securities trade, the exchange will submit the trade for settlement to GLASS. GLASS would then route the trade to the regulated entity in that jurisdiction to determine if it complies with local laws and regulations. Digital compliance certificates are generated to provide the necessary record for regulators