London-based Abacas launches asset-backed coins for digital exchange

By Simon Jessop LONDON (Reuters) – London-based Abacas has launched asset-backed coins (ABCs) that will allow investors to trade a range of assets on a digital exchange, the company’s chief operating officer Morgan McDonnell said on Monday. Rather than supplant the fund firms that buy and sell stocks, bonds and other assets on behalf of investors, Abacas has designed a new trading environment in which investors will be able to trade a range of assets using ABCs

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