Finally, everyone’s favorite tech companies such as Amazon and Facebook are on board through digital tokens. However it’s not through their established brands, but instead through a cryptocurrency platform called DX.Exchange.
DX.Exchange widely took to Twitter to release their announcement of introduction on January 7th. Users of DX.Exchange will be able to not only buy and sell popular cryptocurrencies but also trade on tech stocks through digital tokens.
The exchange brings in unique trade pairings. In crypto to crypto pairs, it has Ripple (XRP) available against Bitcoin and Ethereum, while there is the availability of the Japanese Yen and also Facebook, Amazon, Baidu, and several other technology stocks available on NASDAQ in the form of tokens.
DX.Exchange is Estonia based. Currently, the mouth-watering exchange is only available to users in the European Union, with American traders being promised to be allowed to use it by this year, 2019.
Daniel Skowronski, the CEO of DX.Exchange emphasized the opportunity for both traditional and modern-day investors.
He said, “We saw a huge market opportunity in tokenizing existing securities. We believe that this is the beginning of the traditional market’s merge with blockchain technology. This is going to open a whole new world of trading securities old and new alike.”
The idea of tokenizing popular stocks brings it to the forefront to international investors. Payment structure on DX.Exchange is seen to be more viable through a monthly fee of only $10 as compared to high fees on traditional exchanges. Similar to cryptocurrencies being available 24/7, these digital stocks will be made available throughout the day and night even on weekends.
It is a huge opportunity to institutionalize cryptocurrency given that DX.Exchange follows EU regulation with the option of crypto-to-fiat deposits and withdrawals.
Given that DX.Exchange does not operate from the US don’t fret on the required permission from the Americans for it to offer this type of service. MPS MarketPlace which is a licensed company by Cyprus’s financial regulator will hold the stocks on behalf of the token owners and will ensure its in a segregated account.
Image Source – Thinking Crypto
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