Digital Assets AG News: FTX exchange, along with Digital Assets AG, is spearheading the launch of tokenized stocks in Solana.
Digital Assets AG brings tokenized stocks for 55 companies to Solana. The FTX exchange will be the first platform to enable trading for users who have completed the KYC (Authentication) process.
Blue Chip Stocks on the Solana network
Solana will host tokenized stocks for many companies including Facebook, Apple, Google, Netflix, Nvidia, PayPal, Square and Tesla.
Digital Assets AG (DAAG) plans to list 55 tokenized stocks on its Tier 1 blockchain platform. The Swiss firm provides free shares on exchanges such as Binance and FTX, as well as private blockchains. Free tokens are regulated assets that represent the public offering of these shares.
The securities brochures of DAAG Tokenized Stocks have been approved by the Liechtenstein Financial Market Authority (FMA) for the validation of the stocks in the European Economic Area.
According to the press release shared with Crypto Briefing, the FTX exchange will lead the trading of DAAG’s stock tokens on Solana. Any user who has completed the exchange’s KYC process and resides in jurisdictions allowed will be able to trade the tokens.
“DAAG’s tokenized equity infrastructure will help facilitate a paradigm shift in the underlying market structure, and we are excited to continue working with Solana and DAAG to set the standard in this industry.” said.
Anatoly Yakovenko, CEO of Solana Labs, added that DAAG is “ready to expand the financial technology that can be built on Solana with DeFi products ready to support these new stock tokens.”
Tokenized stocks are not new in the crypto world. FTX, Binance, and Bittrex Global allow trading of multiple stock and commodity tokens, but tokens cannot be transferred between platforms. The stock launch of DAAG will open the gateway for access in DeFi applications, allowing transfers to the secondary market, external applications, other Solana addresses or applications.