Bittrex Launches Tokenized Stock Service!
coinputin.com – Users will now be able to buy and sell shares of Tesla, Apple, Google and others from the popular cryptocurrency exchange Bittrex.
Crypto exchange Bittrex, DigitalAssets.AG in collaboration with, he announced that he would list tokenized shares on his platform. The move will allow traders and investors to invest in U.S.-listed companies at no additional cost or without the use of the services of a traditional brokerage firm.
Tokenized stocks are a next-generation derivative product that represents traditional securities, stocks in publicly traded firms traded on exchanges. Such a product did not exist before, but advances in representing a digital token value paved the way for this. Tom Albright, Chief Executive of Bittrex, said::
“Blockchain technology has the potential to radically expand access to financial services, and Bittrex Global is proud to offer a portal for people to build their capital and private wealth in a way that was unimaginable a decade ago.”
According to the release, more than 12 popular shares will be offered at Bittrex, including Tesla, Google, Facebook and SPY, an exchange-traded fund made up of the top 500 U.S. companies. The shares can be bought in US dollars, Tether or Bitcoin and traded around the clock.
Small Quantities Can Be Purchased
Similar to the way the cryptocurrency market works-Users can buy part of a cryptocurrency – the new product will allow customers to buy part of the tokenized stock (even for $ 10). Tokenized shares take their value from shares held by CM-Equity, a Germany-based auditor. However, they cannot initially be exchanged for actual stock, but a future update could change that.
Issuing tokens representing traditional stocks (among other things) had long been a sought-after narrative among crypto circles. This year, however, the gap is slowly filling as Bittrex joins the crypto exchanges FTX and Bitfinex, which are launching their own tokenized stocks and index products in early 2020.