Tesla, Facebook, Google tokenized stocks to be available on Solana blockchain.

New era in cryptocurrency and stocks started with the launching of tokenized stocks on Binance. 

Binance provided a means of exchanging tokenized stocks but FTX launches a list of 55 tokenized stocks to be made available on the blockchain. 

Tesla, Facebook, Google, Netflix, PayPal, Square, and Nvidia will be available immediately for trading. 

Swiss based company, Digital Asset AG is the brain behind the launching of tokenized stocks. 

The stocks will be available for trading by Hong-Kong registered exchange, FTX. 

Implications of the new launching. 

  • Purchase of tokenized stocks as crypto assets. 

Stocks tokenization will enable users to easily buy stocks as crypto assets. 

Before the launching by FTX, tokenized stocks can only be traded on Binance and Bittrex. 

On the previous exchanges, users can only open either a long or short position but they cannot own the stocks in their wallet. 

  • Withdrawable

The new update from FTX enables users to withdraw their tokenized stocks as crypto assets and save it in their own wallet. 

Wallet addresses give users more control over their assets compared to exchanges. 

Private keys of assets held on exchanges are not known by the holders.

  • Transferrable

Being able to withdraw is another thing from being transferable. 

It can be withdrawn but might not be transferable. 

These stocks on solana blockchain can be transferred within several users without limit. 

Brandon Williams, corporate development lead at Digital Assets AG, told Decrypt that these transferable stock tokens will “bridge the traditional finance and decentralized finance (DeFi).”

  • Tradeable on DeFi exchanges 

Decentralized exchanges on Solana can now add these stocks and be available for trading 24/7.

The blockchain is now moving at a fast rate and you might be left out if you did not take action now. 

Bitcoin has been approved as legal tender in El Salvador. 

In the same news, Paraguay has passed a bill to make bitcoin a legal tender

What else are you waiting for? 

Sign up on kurepay now and get started without stress. 

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