$SMT lists on Uphold with over 10 million users
- Fourth centralized listing for SMT since CEX listing roadmap began in December 2023
Swarm, a real-world asset platform that integrates traditional financial services with crypto, today announces its payment token, $SMT, will make its fourth exchange listing on Uphold, a regulated multi-asset digital money platform offering financial services to a global market, with over 10 million users globally.
The listing is significant because it moves $SMT into the realm of trading apps like eToro and Robinhood who help make investing in crypto easy.
Uphold is regulated in the U.S. by FinCen and state regulators, and by the FCA in the U.K. It is registered in Canada with FINTRAC and in Europe with the Financial Crime Investigation Service under The Ministry of the Interior of the Republic of Lithuania.
From 16:00 UTC on 16 May 2024, Uphold users will be able to trade Swarm Markets’ token, $SMT.
The Uphold listing is just one in a series of centralized exchange listings for $SMT, since the Swarm team embarked on a listing roadmap at the end of 2023.
How is $SMT linked with RWAs?
$SMT is closely linked with the tokenization of real world assets narrative, which is set to be one of the biggest trends in the next crypto bull run and beyond, as more assets move on chain.
Swarm is a blockchain platform that brings unique tokenization and trading solutions to the world of traditional finance. It is the first organization in the world to offer digitized US treasury bills and Apple stock via a compliant and decentralized platform, which can be offered to retail clients at no minimum investment.
The $SMT token facilitates efficient payments on the Swarm platform and powers incentive mechanisms, including fee discounts for traders and boosted rewards for liquidity providers.
In December 2023, Swarm launched a permissionless trading platform for anyone to trade tokenized real world assets. Trading fees from this platform automatically burn $SMT and RWA issuance from the platform contributes towards weekly rewards calculations.
Where can I trade it?
The token listing on Uphold follows $SMT’s listings on BingX in April 2024, Gate.io in February 2024 (under the ticker $SMTX) and MEXC in December 2023.
The Swarm Markets team hopes to announce more centralized exchange listings in the pipeline. A roadmap of what the Swarm team set out to achieve in 2023, what they delivered and what to expect in 2024 can be found here.
Useful links
- For tokenomics and distribution, visit the SMT docs page.
- Visit CoinGeck for up-to-date $SMT stats and figures.
- Deflationary measures and increased utility for $SMT were introduced in April 2023. You can find more details here.
- In August 2023, we announced that SMT holders will be able to stake their tokens against the tokenized securities listed on the Swarm trading platform to earn rewards. Read about staking here
- For total circulating supply figures, use our API.
About Swarm
Swarm is a real-world asset platform that integrates traditional financial services with crypto. It is the first organization in the world to offer digitized US treasury bills and Apple stock via a compliant and decentralized platform.
Day to day, we work with real-world-asset owners to tokenize collateral and build trading infrastructure in a regulatory compliant way. Issuers that need compliance guarantees from a top tier jurisdiction to build secondary markets of tokenized securities, including fixed income products, choose to partner Swarm.
Swarm is a hybrid, embracing the advantages of blockchain-trading — flexibility, speed and efficiency — and pairing it with the trust and asset-range typically enjoyed by traditional exchanges. Swarm aims to integrate TradFi with DeFi so that everything becomes “Fi”. For more information, visit the website.
