South Korea’s cryptocurrency exchange Bithumb will open an alternative trading exchange in the United States.

Bithumb said Wednesday it signed an agreement with the American crowdfunding platform SeriesOne for partnership. Bithumb will invest in SeriesOne and provide technology to SeriesOne for opening the securities token exchange.

SeriesOne plans to get an approval from the U.S. Securities & Exchange Commission for opening the exchange sometime in the first half of next year. SeriesOne was established in 2013.

SeriesOne said it partnered with Bithumb for its technology and know-how on cryptocurrencies and running a trading exchange.

Bithumb said it would make efforts to become a global financial firm. It said the blockchain-based asset tokenization is expected to get popular worldwide.

Alternative trading system (ATS) is a U.S. and Canadian regulatory term for a non-trading exchange that matches buyers and sellers to find counterparts for transactions. The U.S. SEC issue licenses to firms doing an alternative to a traditional stock exchange.

A securities token is a kind of securities with features with smart contract based on the blockchain. Companies securitize their assets linked to property, natural resources and media content and issue tokens to investors. Companies later distribute returns to the holders of tokens later. Thus a securities-type token is a de facto securities tradable on the exchange.

Last month, Bithumb announced it would open a global decentralize cryptocurrency exchange through a partnership with blockchain firm One Root Network (RNT). RNT is an Ethereum-based decentralized token transaction protocol called R1.