Share this article
Digital Assets AG is bringing tokenized stocks for 55 companies to Solana. FTX exchange will be the first platform to enable trading for users who complete its KYC process.
Blue Chip Stocks on Solana
Solana will host tokenized stocks for a range of companies including Facebook, Apple, Google, Netflix, Nvidia, PayPal, Square, and Tesla.
Digital Assets AG (DAAG) plans to list the 55 tokenized stocks on the Layer 1 blockchain platform. The Swiss firm provides free-floating stocks on exchanges like Binance and FTX, as well as on private blockchains. Free-floating tokens are regulated assets that represent the publicly issued supply of those shares.
The securities prospectus of DAAG Tokenized Stocks is endorsed by the Financial Market Authority (FMA) of Liechtenstein, making the stocks valid in the European Economic Area.
According to a press release shared with Crypto Briefing, FTX exchange will pilot trading DAAG’s stock tokens on Solana. Any users who complete the exchange’s KYC process and live in permitted jurisdictions will be able to trade the tokens.
FTX is a leading supporter of Solana as a hub for next-generation DeFi applications. The exchange is run by Sam Bankman-Fried, who also owns Alameda Research, a trading firm that’s backed many projects in the blockchain’s ecosystem. Speaking of the launch, Bankman-Fried said:
“DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure, and we’re excited to continue working with Solana and DAAG to set the standard in this industry.”
Anatoly Yakovenko, CEO of Solana Labs, added that DAAG was “primed to expand the financial technology that can be built on Solana, with DeFi products ready to support these new equity tokens.”
Tokenized stocks are not new in the crypto world. FTX, Binance, and Bittrex Global enable trading of multiple stock and commodity tokens, but the tokens are not transferable across platforms. DAAG’s stock launch will allow for transfers to the secondary market, external apps, other Solana addresses, or applications, opening the gateway for access in DeFi applications.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
FTX Bets on Solana, Not Ethereum, for Its New Decentralized Exchange
FTX is spearheading the launch of a new decentralized exchange (DEX) to kickstart a new DeFi ecosystem on the Solana blockchain. Touted as an “Ethereum Killer,” can Solana’s high throughput…
Ren Bridge Adds Support for Bitcoin on Solana
A tokenized version of Bitcoin is now available on Solana via Ren’s bridge. Ren Integrates Solana Ren has launched a bridge to Solana. The project announced the integration Thursday, remarking…
What is Kusama? How Polkadot’s playground accommodates blockchain de…
Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same…
Polygon, Solana, DeFi on Grayscale’s Radar
Grayscale is exploring 13 new cryptocurrencies as tentative investment offerings, including Polygon and Solana’s native tokens. Grayscale Considering 13 New Assets Grayscale is weighing up adding a new list of…