DX.Exchange To Trade Tokenized Shares
DX.Exchange, a crypto exchange from Estonia, will launch a trading platform, allowing its customers to buy tokenized shares of the largest corporations in the world listed on the Nasdaq Stock Exchange, on January 7, 2019, Coindesk reports.
Clients of the cryptocurrency exchange will have an opportunity to acquire tokens representing companies' shares, both for cryptos and fiat money, Amedeo Moscato, the Chief Operating Officer of DX.Exchange, stated. One token will equal to one real stock. Thus, customers will receive the same revenue as in case with ordinary securities.
To assist the tokenized shares trading and to protect against the market manipulation, the exchange will use the Nasdaq compliance mechanism and its protocol of financial information sharing, which is a standard applied by several firms involved in securities trading in the US.
DX.Exchange has entered into an agreement with MPS Marketplace Securities, which will acquire stocks based on the demand of buyers and generate them into the ERC-20 standard tokens. Tokenized securities will be kept on a separate account. MPS will buy shares of such world leading corporations as Apple, Amazon, Facebook, and some others.
It should be stressed that MPS operates under the rules of the financial regulatory institution in Cyprus, and DX.Exchange works within the regulations approved by the EU.
Earlier, Anthony Pompliano, a crypto enthusiast and the founder of Morgan Creek, stated that all securities will be tokenized in the coming years.