DX.Exchange to Add Tokenized Shares of 10 Nasdaq Stocks
As reported on Bloomberg on January 3rd, the exchange called DX.Exchange opening next week will be offering US stocks to the market outside the United States thanks to blockchain technology, while it appears that tokenization of different real-life assets is becoming a new blockchain trend.
The exchange has offices in Israel and Estonia and is set to enable 24/7 trading with cryptocurrency and digital assets in form of stocks.
Once DX.Exchange goes live, traders from around the globe will be able to trade with stocks of some of the top companies in the US stock market, such as Apple Inc. (APPL), Facebook (FB) and Tesla (TSLA).
The Upcoming DX.Exchange to Offer Digital Stocks
In a growing trend of tokenizing real-life assets alongside the growing population of different cryptocurrencies and digital assets in the crypto market, DX.Exchange is about to launch with an offer of digital stocks of 10 companies listed on Nasdaq.
Thanks to blockchain technology, traders outside the US will be able to trade digital stocks for free during the entire day and even when Nasdaq market closes, while the exchange also has plans on expanding to the New York Stock Exchange.
Another one of the targeted expansion areas is said to be Tokyo and Hong Kong.
The exchange also has strong partners ahead of the launch, in Bloomberg, which represents their Crypto Center support through media, and Nasdaq, listed as their Trading Technology Partner.
Moreover, the tokens that represent digital stocks will be hosted on Ethereum network, where the amount and circulating supply of these tokens will solely depend on the overall demand on the exchange.
Traders will be able to buy digital stock which are based on actual stocks listed on the Nasdaq market, where Market Place Securities, as a partner of the exchange, will hold the tokens.
CEO Skowronski Claims DX.Exchange Doesn’t Need Permission from the US
Daniel Skowronski, the CEO of DX.Exchange stated that their exchange and the way it operates shouldn’t be affected by any current or future regulations applicable in the United States.
As Skowronski says, the exchange will not operate in the US, so it won’t be suppressible to the US laws, adding that the exchange is fully legal and regulated by the laws in the European Union.
Additionally, in an email for Bloomberg, the Chief Executive of the upcoming exchange said that they (the team behind the exchange), were able to see a major potential in tokenizing securities that already exist in the US market, believing that the launch of DX.Exchange will mark the beginning of the blockchain technology merging with the traditional trading markets.
While tokenization represents another form of development in blockchain technology, the CEO also added that DX.Exchange will open “a whole new world of trading securities old and new alike”.
When asked for a comment from Bloomberg reporters on the matter of regulating operating branches, such as DX.Exchange, that are planning on selling US stocks outside the United States market through tokenization, the Securities and Exchange Commission declined providing an answer.
3020total visits,1visits today