Hyperion Exchange CEO Mike Zavet discusses the company’s plans to list securities or STOs (Security Token Offering) on the Blockchain. The pair discuss the possibility of STOs one day replacing IPOs. Zavet states that Hyperion might become a public entity and that the company is hoping to go live in approximately 100 days. Zavat sees the potential for cryptocurrencies to “break down border and geographical limitations.” Zavat addresses the volatility of the cryptocurrency market and stresses stability is entering the space.
Transcript:
James West: We’ve got Mike Zavet. He’s the CEO of Hyperion Exchange, a new crypto exchange that is part of the new crypto economy, and he’s one of the most knowledgeable guys in the space.
Also, we’re going to wrap up the market with Stevie Misener, formerly one of Canada’s best known small-cap fund managers. He’s probably one of the most colourful characters in the Bay Street mix; he’ll join us about halfway through the show. And then, at 4:20, we’ll have Alan Brockstein, who was the first chartered financial analyst to cover the cannabis space in the United States. He’ll be here at 4:20 Eastern – that is guaranteed to be an extremely enlightening conversation.
Right now, I’m joined with Mike Zavet, CEO of Hyperion. Mike, thanks for joining me.
Michael Zavet: Thank you for having me on the show.
James West: Well Mike, let’s talk about Hyperion a bit. What exactly is the exchange all about?
Michael Zavet: So Hyperion is a very unique exchange offering in that it’s not only classical utilities cryptocurrency exchange; it actually is a hybridized exchange that includes the plan to list securities on the Blockchain. This is a space that’s been evolving over the last few months, or even years, but more so it’s accelerated now that the SEC has begun to take steps to recognize securities and securities on the Blockchain – in other words, digital securities.
James West: So are you securitizing, like, fractionalizing securities?
Michael Zavet: Well, what we’re actually doing is hosting a security token. So there are a number of companies now that are beginning to do issuance for securities, and what they’re doing is, instead of doing what classically is a note, like, you know, paper securities, they are doing a digital security. And this is much like equities or, possibly, revenue streams or other financial products, except –
Michael Zavet: They are ICOs, but they’re security ICOs. So we like to call them STOs, and perhaps that name will evolve as well.
James West: Okay, great. That’s all we need, is another anagram.
Michael Zavet: That’s right.
James West: And so STO: Securitized, Security Token –
Michael Zavet: Offering, that’s right.
James West: Offering, okay. So how does that comply with securities laws currently?
Michael Zavet: So there are a number of ways of going about an STO, but essentially what we’re looking to do is work with the regulators to find a way to be completely compliant while still offering these new and unique vehicles. So we’re seeing is, in the States