TCR TOP STORIES
Home / Cryptocurrency / Nasdaq: Crypto Exchange to Tokenize US Stocks Like Tesla, Facebook and Apple

Nasdaq: Crypto Exchange to Tokenize US Stocks Like Tesla, Facebook and Apple

New crypto currency exchange powered by Nasdaq’s world- class matching engine is set to tokenize US stocks such as Tesla, Facebook, Apple. The move offers a tantalizing preview of the potential for cryptocurrency and blockchain technology to transform the world of finance.

According to Bloomberg new report, “Each digital security is backed by one regular share and holders will be entitled to the same cash dividends, even though the companies themselves aren’t involved.”

As for the legality of digital securities, DX.Exchange says they don’t need the SEC’s seal of approval.

“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.”

 

 

Digital stocks would offer retail investors a way to circumvent the stop-and-go nature of the stock market.

It could also give foreign investors an easy way to enter the US market.

Additional digital asset products and platforms are striving to make cryptocurrencies integral in the economy as well, proliferating Bitcoin and cryptocurrencies as a new form of money. Bakkt and Fidelity, for example, are both pushing for greater crypto adoption in 2019 with major onramps that will allow customers to acquire and hold digital assets.

The introduction of crypto tokens as real stocks has massive implications in terms of how it will impact Wall Street. First and foremost, it advances cryptocurrencies as a key lubricant for global financial markets.

DX. Exchange is expected to launch on January 7th and so far, the SEC has declined to comment.

Check Also

Cryptocurrency Continues Clamp Down by China

The government of China has a bitter relationship with the cryptocurrency market, in the meantime …

Leave a Reply

Your email address will not be published. Required fields are marked *

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.