Nasdaq and Estonias DX Exchange To Launch Ethereum Tokenized Stocks

Nasdaq and Estonias DX Exchange To Launch Ethereum Tokenized Stocks

Nasdaq has partnered with an Estonian digital trading platform to launch the first Ethereum based tokenized stocks regulated under European Union laws on January 7.


EU Regulated Stock Trading On Ethereum

In a press release Thursday, DX Exchange confirmed it would offer users the option to trade big-name stocks using tokens on the Ethereum blockchain via smart contracts.

The product of a multi-way partnership, the launch will make DX the only exchange licensed to offer tokenized stock products in the EU.

Digital stocks combine the best of both worlds: blockchain technology and traditional stock investments, the release reads.

Digital stocks are backed 1:1 to real-world stocks traded on conventional stock exchanges. You purchase tokens for leading assets that you choose to invest in, such as Google, Amazon, etc. Therefore, when you are a token holder, you own shares of the company.

DX stressed that the new stocks were tantamount to physical exposure, in contrast to trading contracts for difference (CFDs).


Another Crypto Outlet For Nasdaq

To realize the project, the exchange has partnered with Nasdaq and will use its Financial Information exchange (FIX) protocol, in line with the majority of US firms active in the market.

The stocks to back the tokens will be acquired by exclusive partner MPS MarketPlace Securities Ltd.

The company issues tokens that represent stocks on (the) Ethereum blockchain via smart contracts, and buys and holds real-world stocks according to demand, DX explains.

The tokens offered for sale will be based on leading public company shares listed on the biggest exchanges like NASDAQ, NYSE, Hong Kong Exchange and Tokyo Stock Exchange.

Nasdaq itself is rumored to begin offering Bitcoin futures in the first half of this year, while New York Stock Exchange owner Intercontinental Exchange is still on track to launch physical futures contracts later in January.

This week meanwhile also saw Galaxy Digital founder and CEO Mike Novogratz increase his shareholder stake to 80 percent of the cryptocurrency merchant bank.

What do you think about DX Exchanges tokenized stocks? Let us know in the comments below!

Images courtesy of Shutterstock

The post Nasdaq and Estonias DX Exchange To Launch Ethereum Tokenized Stocks appeared first on Bitcoinist.com.

03.01.2019 / 08:10 80
Dx.Exchange Launching Cryptocurrency Trading Platform With Tokenized Stocks Dx.Exchange Launching Cryptocurrency
TweetShare Dx.exchangeis launching a new cryptocurrency platform that tokenizes the stock market. The Estonia-based fintech companyis the first
European Exchange to Offer Investing in Stocks With Cryptocurrencies European Exchange to Offer Investing in
Cryptocurrency holders who look for ways to diversify their portfolios into other markets are about to get a new option for doing so. A regulated
Bitcoin (BTC) Is Not Alone as Tech Stocks Continue to Fall Bitcoin (BTC) Is Not Alone as Tech
The Crypto community can be forgiven for concluding that Bitcoin (BTC) is in trouble given the past few weeks of losses in the markets. But taking
How To Buy S&P 100 Stocks With Bitcoin How To Buy S&P 100 Stocks With
How to buy stocks with bitcoin? Perhaps surprisingly, stocks and shares have been unnecessarily difficult to buy using bitcoin, despite many brokers
Crypto Hangover Causes Nvidias Stock to Tumble 17% Crypto Hangover Causes Nvidias Stock
Following a week of widespread carnage in the cryptocurrency markets, traditional retail stocks involved with the crypto sector are feeling the burn
SEC, CFTC Are Examining Whether Ethereum Should be Regulated As a Security SEC, CFTC Are Examining Whether
Ethereum has found itself under the regulator spotlight with a report suggesting that authorities are looking at whether it and other
Comments (0)
Add a comment
Comment on