An Estonian digital platform named DX Exchange is in the crypto news today for its apparent launch of tokenized stocks on the Ethereum blockchain that will start next week, according to an official crypto press release submitted by the company yesterday.
With this, DX will reportedly be the first exchange to offer such trading in an environment that is fully regulated within the European Union. The exchange will also use Nasdaq’s Financial Information Exchange (FIX) protocol in order to deliver the product.
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As the release noted, cryptocurrency users will be able to purchase tokens that will be backed by stocks in different companies such as Google, Facebook and Amazon.
The shares will be purchased on the behalf of users by MPS MarketPlace Securities Ltd. which is a partner to DX. As the release notes:
“Digital stocks combine the best of both worlds: blockchain technology and traditional stock investments. They are backed 1:1 to real-world stocks traded on conventional stock exchanges. You purchase tokens for leading assets that you choose to invest in, such as Google, Amazon, etc. Therefore, when you are a token holder, you own shares of the company.”
DX was introduced in May last year as a concept that will make regulated trading environment for cryptocurrencies, currencies and digital stocks. Meanwhile, Nasdaq has been dedicating itself to a future that involves cryptocurrency and blockchain technology.
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