EU-regulated digital exchange to launch trading of tokenized Nasdaq stocks

03 Jan, 2019 | Updated: 03 Jan, 2019
by Will Heasman
EU-regulated digital exchange to launch trading of tokenized Nasdaq stocks

Estonian digital trading platform, DX.exchnage, launches next week bringing with it the ability to buy and sell tokenized Nasdaq-traded stocks.

Utilizing a matching engine - powered by Nasdaq’s Financial Information exchange (FIX) protocol - DX exchange enables investors to trade tokenized securities, ranging from stocks in Apple, Amazon, and Google to Facebook, Intel, and Tesla.

Tokens will be based on Ethereum architecture - more specifically ERC20 tokens - and are backed by real stocks issued by the global multi-asset broker, MPS MarketPlace Securities.

According to finextra, DX.echnage’s COO Amedeo Moscato believes this new venture will herald in the era of a new tokenized world:

“We are creating the first real bridge between crypto and the real stock exchange, and this is the beginning of the traditional market’s merge with blockchain technology. The old market has finally been connected to a new, tokenized financial world." 

The exchange isn’t stopping at Nasdaq stocks, but instead planning to create smart contracts which will connect to major stock market all over the world, including the New York Stock Exchange, the Hong Kong Stock Exchange, and the Tokyo stock exchange.

The news brought out much anticipation from the cryptocurrency community:

This comes is an unexpected and very welcome venture within the crypto industry, and hopefully, something that will draw more investors into the space. All eyes are now pointed towards the launch of the exchange on the 7th of January.

Read more: Bakkt raises $182 million in first funding roundIs 2019 the year of the security token?

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