New platform allows users to buy Apple & Tesla shares and keeping in ERC-20 tokens

05 Jan, 2019 | Updated: 05 Jan, 2019
by Fifi Arisandi
Trading
New platform allows users to buy Apple & Tesla shares and keeping in ERC-20 tokens

A new trading platform, called DX-Exchange allows users to purchase the shares of various companies in the form of ERC-20 tokens. 

Claiming as the first regulated & digital stocks exchange in the world, the Estonia-based is looking to fully operate on Monday, January 7th.

Through their platform, users can choose which of major firms’ shares they’d want to buy, after which the shares purchased will be “represented” by ERC-20 tokens.

To make it happen, DX-Exchange works with MPS Marketplace Securities, which will be the party that purchases the real-world stocks and generates the equal amount of ERC-20 tokens.

And since the tokens are backed 1:1 by the real stocks, users will own a number of tokens exactly the same as the number of shares they purchase.

Explaining the process further, COO Amadeo Moscato said that upon purchase, the actual shares will be kept in a separate account of the ones used by MPS for transactions to ensure the safety in case the company experience issues or file for bankruptcy.

Moreover, to protect against market manipulation and facilitate the digital securities trading, DX-Exchange use Nasdaq’s matching engine, thus the listed stocks are also the same.

Users can choose to purchase the shares of companies, such as Alphabet, Amazon, Apple, Facebook, Microsoft, Tesla, Netflix, Baidu, Intel Corporation and Nvidia, as reported by Coindesk.

In addition, the Cyprus and Securities and Exchange-supervised exchange also partners with Bloomberg, which in return they will also power Bloomberg’s crypto platform.

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Poll

Are you interested in such platform?

(2 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage