- DX. Exchange will support Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), OmiseGo (OMG), Enigma, ShareToken, and Digibyte.
- The new platform gives traders a 24-hour seven days a week access to the traditional stock market.
The cryptocurrency market alongside the traditional market investors is waiting anxiously for the groundbreaking launch of tokenized stocks. The new system of trading traditional stocks using digital tokens is being launched on Monday, January 7 by the Estonia-based DX. Exchange.
The good news is that the exchange has revealed the cryptocurrencies that will be supported on the new platform. As from the launch, DX. Exchange will support Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), OmiseGo (OMG), Enigma, ShareToken as well as Digibyte. All the above assets will be paired to the US Dollar while XRP and ADA will be paired with the Japanese Yen and XRP and Digibyte to the Euro.
The game changer is the trading of stocks of companies like Facebook, Google, Apple, Netflix, Tesla, Nvidia, Amazon, Intel as well as Baidu using tokenized shares. As reported last week, the firm will allow customers to trade stocks of the Nasdaq listed stock companies without owning physical shares of the same.
The new platform gives traders a 24-hour seven days a week access to the traditional stock market. In addition to that, people outside the United States now have an easier way of entering the stock market in the country. According to the exchange, already 500,000 customers have registered to start trading immediately the platform is released. DX.Exchange will run on Nasdaq’s cutting-edge matching engine.
Several experts have expressed their views on the new development in the market. Bloomberg News said in a story in regards to regulations:
“Even though U.S. regulators oversee trading of DX’s initial roster of stocks, Chief Executive Officer Daniel Skowronski said he doesn’t need permission from the Americans to offer this service because DX doesn’t operate there. The company says it’s licensed by the Estonian Financial Intelligence Unit with full authorization to operate in the European Union.”
Another expert opinion from the head of product at AlphaPoint, Ned Myers
"The digitization of existing financial securities presents a real opportunity to onboard new capital via fractionalization, in a way comparable to other tradable assets that already rely on a blockchain. Fractionalizing equity interest in a corporation, project finance project, or real estate investment trust, are all examples of the same trend — creating a digital security that leverages the advantages of blockchain.”
Ned says in continuation:
“Transferring a store of value from a physical asset to a digital one provides easier access to the hundreds of billions of dollars circulating throughout capital markets, sidestepping the fees associated with converting crypto assets to a fiat currency. DX.Exchange’s trading of securities is indicative of a trend AlphaPoint is seeing from several of its customers and is likely to dominate both the blockchain and high-worth asset sectors in 2019."
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