European-Regulated Exchange Will Offer Tokenized Shares of Major Stocks Next Week
The long-awaited release of the DX.Exchange platform’s special tokenized stock offerings will finally happen next week. The European-regulated cryptocurrency exchange will offer tokenized securities representing shares in Tesla, Apple, and other stocks.
Europeans will soon be able to obtain and trade tokenized shares of Tesla, Apple, Amazon, Facebook, Netflix, and other major stocks thanks to the DX.Exchange. Slated for release next week, the security token exchange will open with the top 10 traded stocks on the Nasdaq first before expanding.
Traders on DX.Exchange will be able to purchase tokenized shares of Amazon, for example, with either fiat or certain cryptocurrencies like Bitcoin. Each tokenized share is backed by the real share of a given company. The tokenized stock will be represented on the Ethereum blockchain as an ERC-20.
Although there are many cryptocurrency exchanges currently, DX.Exchange hopes to differentiate itself with its tokenized stock offerings. It is also one of the first regulated security token exchanges in Europe.
The exchange will use Nasdaq’s own SMARTS technology to monitor its trading activity.
“We built it on the back of Nasdaq’s SMARTS and its matching engine technology. We follow MIFID compliance. Our license in Estonia allows clients to exchange fiat to crypto and crypto to crypto. And we have a full-scale institutional custody solution,” said DX.Exchange’s chief executive officer Daniel Skowronski.
The exchange began listing security tokens a few months ago. According to the Skowronski, “we believe all financial assets will be tokenized in time.”
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