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.
Estonian regulated exchange DX.Exchange announced the launch of a trading platform on which tokenized shares of top companies from the Nasdaq stock exchange listing will be quoted. At the same time, users will be able to purchase them both for cryptocurrencies and for Fiat. In addition, peering trading in digital currencies will be available at the site.
DX.Exchange uses a bidding and processing mechanism from Nasdaq to trade digital shares and prevent market manipulation. Users will acquire tokenized securities that will give them ownership of real shares. In this case, the ratio of the cost of tokens and the value of the shares will be 1: 1.
Tokenized Apple, Tesla and Netflix shares will be available on the DX.Exchange cryptocurrency exchange
The purchase of real shares under the control of the Cyprus Securities and Exchange Commission will be the responsibility of MPS Marketplace Securities, Ltd. It will also generate the corresponding ERC-20 tokens.
Initially, the platform will feature AlphaBet, Apple, Amazon.com, Facebook, Microsoft Corporation, Tesla, Netflix, Baidu, Intel Corporation and Nvidia.
At the same time, DX.Exchange uses the DIX protocol from Nasdaq to provide electronic communication between the parties to the transaction. We add that the platform also concluded a partnership agreement with Bloomberg.
The launch of DX.Exchange is scheduled for January 7th.