The Estonia-based fintech firm DX.Exchange is heading towards the launch of non-CFD crypto exchange that offers stock trading tokenized on the blockchain technology. DX.Exchange’s new platform focuses on tokenizing the stock market.
As per the reports, DX.Exchange will list giant companies like Google, Facebook, Intel, and Apple. In the history of blockchain technology and cryptocurrencies, this is the first time when securities will be purchased directly with cryptocurrencies like Bitcoin.
DX.Exchange will launch its services from January 7th. The official twitter handle of DX.Exchange announced the news. In their tweet they wrote:
— DX.Exchange (@DXdotExchange) December 23, 2018
DX.Exchange Trading Stocks on Cryptocurrency
The reports of new outlet Bloomberg say that the stocks trade on cryptocurrency exchange will be available even after the closing of stock markets. As officially announced by DX.Exchange that they a EU-regulated crypto exchange – which is powered by Matching Engine Technology of Nasdaq.
DX.Exchange stated that on 7th January, they are launching a new Nasdaq powered exchange – to bridge the gap between digital currencies and stocks of the market – using its tokenized digital stocks platform.
The firm will be the first exchange to offer a tokenized share of giant companies like Facebook, Amazon, and Intel etc. Along with this, DX.Exchange will also empower the traders to buy value stocks in the form of digital tokens.
Daniel Skowronski, CEO at DX.Exchange, quoted:
“By tokenizing stocks of some of the biggest publicly traded companies like Google, Amazon, Facebook and more, DX is opening an untapped market of millions of old and new traders around the globe cutting out the middleman.”
DX.Exchange claims that they use Ethereum and ERC-20 for tokenizing the stocks – backed by 1:1 by the physical assets. The firm also believes that their idea of providing services is the same as that of Stablecoins like USDT (Tether) – that is using just stocks in place of fiat money.
Daniel further stated in a press release that in the crypto industry tokenizing securities is a first application where cryptocurrency collides with the real market stocks for almost 24 hours a day.