- Injective Protocol soon to offer to trade of tokenized stocks of several major firms
- Stocks like Google, Amazon, Airbnb, can now be traded on decentralized platforms
- Injective Protocol has partnered with Band Protocol and Terra
- The crypto industry seems to embrace traditional stocks
On Monday, Injective Protocol, the Binance-backed decentralized derivative trading platform, has announced that soon it will launch tokenized stocks. Such tokenized stocks will allow users to trade the stocks of major firms like Google. To bring this in reality, Injective has partnered with Band Protocol and Terra. However, soon the users will be able to trade popular stocks like Google, Amazon, Airbnb through Injective’s exchange platform.
Major stocks can now be traded in a decentralized environment
From the report, it is found that soon US’s several major firm’s stocks can be traded in the decentralized environment. The development idea is the part of Injective’s goal, as the platform aims to enable streamlined medium for individuals to trade the stocks from major firms. Injective will also offer trading with low or no cost to its users. It is also known that individuals can leverage the Injective’s Solstice V2 network for trading such stocks with USDT.
Why did Injective partner with Band and Terra?
According to Injective Protocol, the partnership with Band Protocol can help to provide oracle technology. It is known that oracle technology is needed for the decentralized price data feed. The technology is vital as the firm has plans to allow 24 hours trading of stocks on its platform. Injective also mentioned that partnering with Terra, a payment firm can help the firm to provide historical price data from after the regular market hours. However, the Protocol’s team has also planned to support more stocks from major firms with time.
The cryptosphere is embracing tokenized stocks trading
This month, a Bittrex, a virtual currency exchange, also introduced the support of tokenized stock trading on its platform. Bittrex collaborated with DigitalAssets, a Switzerland-based tokenization platform, to roll out the tokenized stock services. Bittrex also supported the stocks of major firms like Facebook, Google, Netflix, etc. However, now the Injective Protocol will soon launch its new services. According to Eric Chen, the chief executive officer of Injective Protocol, investing in stocks is yet inaccessible for billions of individuals as the existing platforms are suffering technical challenges. However, their new service might help billions of people to get in the stock market.
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