DX.Exchange, a EU regulated cryptocurrency exchange will offer its users securities in the form of tokenized stocks from major companies, including Google’s parent company Alphabet, Facebook, and Amazon.
The first securities to be tokenized and traded as ERC-20 tokens on the Ethereum blockchain and the platform is powered by Nasdaq’s Matching Engine Technology.
DX.Exchange aims to be the first exchange to offer tokenized shares of publicly traded companies and the best part is that trading stocks on the crypto exchange are possible even after closing hours of the stock markets. This is a new approach that bridges the gap between cryptocurrencies and real-world stocks with its Crypto & tokenized digital stocks platform.
DX.Exchange CEO, Daniel Skowronski said:
“By tokenizing stocks of some of the biggest publicly traded companies like Google, Amazon, Facebook and more, DX is opening an untapped market of millions of old and new traders around the globe cutting out the middleman”
“The crypto community has been talking about tokenizing assets for well over a year now without much progress, so we think the impact will be huge. Tokenizing securities is the first true use case where crypto collides with the real world 24 hours a day, 7 days a week. With fractional ownership and no leverage like CFDs, these new digital stocks are a more sound and safer investment that traders can take home in their wallet.”
This Estonia-based exchange announced on Thursday that it would launch its trading platform on Jan. 7 and will allow its clients to purchase crypto tokens representing shares in different tech firms listed on the Nasdaq exchange. Customers will be able to use select cryptocurrencies, as well as fiat currencies to purchase the tokens.
“This is the future of securities; not just new issues but all the thousands of listed securities around the globe.”
Link to the original news article can be found here.