ROCHESTER, N.Y., Jan. 10, 2022 (GLOBE NEWSWIRE) -- DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company with nine operating business lines in diverse, high-growth industries, today announced its USX Holdings Company, Inc. (“USX Holdings”) subsidiary has engaged a leading blockchain, digital assets, and custody law practice in connection with its broker-dealer and alternative trading system (“ATS”) as it prepares to launch an innovative marketplace for trading digital assets based on actively traded U.S. equity securities.
In addition to the ATS and broker-dealer registration, USX Holdings, in conjunction with its legal team, will file regulatory submissions and registration statements for digital assets to be traded on the proprietary trading platform. USX Holdings is also applying for money transmitter and virtual currency activity licenses in several states to offer trading in cryptocurrencies.
“We look forward to working with our legal team as we move forward on our plans to launch a digital asset exchange targeting corporate issuers, retail traders and investors, crypto hedge funds, proprietary trading firms, and other financial intermediaries. Working with the top law firm in the blockchain space will enable us to accelerate our rollout of this groundbreaking initiative,” stated Jason Grady, COO of DSS. “The transformative potential of digital securities is extremely exciting, and we plan to be a major player in the space as we pursue the massive opportunity in the US for a secondary market in securities tokens.”
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 $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 strong momentum for new growth in the financial industry.
USX Holdings is pursuing FINRA registration as an ATS in a joint venture collaboration with Coinstreet Partners, a global decentralized digital investment banking group and digital asset financial service firm, and GSX Group, a global digital exchange ecosystem for the issuance, trading, and settlement of tokenized securities, using its proprietary blockchain solution.
About USX Holdings Company
USX Holdings Company Inc. (“USX”) is a joint venture between the GSX Group, Coinstreet Partners and DSS, Inc. and is comprised of 3 key subsidiary segments that include USX Securities, Inc. (an Alternative Trading System or ATS), USX Digital, Inc. (a Money Service Business or MSB) and dedicated digital assets Broker Dealer. USX Holdings will implement a groundbreaking initiative to establish an innovative marketplace for trading digital assets based on actively traded U.S. equity securities. The center piece of this market will be a regulated Alternative Trading System. This ATS will allow a dynamic interface between customers through the broker dealer and a custodian, who will be the digital repository and share registry for all digital asset positions, and underlying equity portfolios. The broker-dealer will support order entry and trade management of digital securities and operate a blockchain-based back-office system. In addition, the MSB will allow for trading and the exchange of virtual currencies and other digital assets.
About DSS, Inc.
DSS is a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, securitized digital assets, securities trading and fund management, and banking, lending, and finance. Its business model is based on a distribution sharing system in which shareholders receive shares in its subsidiaries as DSS strategically unlocks value through IPO spin offs. Under new leadership since 2019, DSS has built the necessary foundation for sustainable growth through the acquisition and formation of a diversified portfolio of companies positioned to drive profitability in five high-growth sectors. These companies offer innovative, flexible, and real-world solutions that not only meet customer needs, but create sustainable value and opportunity for transformation.
For more information on DSS visit http://www.dssworld.com.
Dave Gentry, CEO
RedChip Companies Inc.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements related to the Company's intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in the section entitled "Risk Factors" in the prospectus and in our other filings with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations, and beliefs. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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