On Monday the Estonian cryptocurrency organization DX.Exchange launched trading platform that allows investors to buy security-tokens placed on Nasdaq stocks, for example, companies like Apple, Tesla, Facebook and Netflix.
Each token is backed by a share of the company and entitles to receive dividends. COO DX Amedeo Moscato noted that “cryptologist tells about security tokens for over a year” and now the company has managed to “achieve progress”:
“Tokenizer shares of some major companies such as Google, Amazon and Facebook, we open untapped market of millions of experienced and new traders worldwide, without intermediaries”
Investors can trade tokens 24 hours a day, even after the close of markets. Co-founder and head of the FINTECH company Securrency Given Dhoni said that the day trades “provide investor as a convenience, and liquidity”, but questioned the business model of the DX:
“We are uncertain and even sceptical DX models.Exchange… but we believe that the model can meet regulatory standards”
Company DX stresses that digital shares are classified as derivatives, and that the platform is developed in accordance with EU legislation. Licensed in Cyprus the company MPS MarketPlace Securities is holding the shares on account and the DX platform built on the technology of Matching Engine from Nasdaq, which is used by more than 70 international markets.
Some experts note that the STO offer security-tokens may replace the ICO as security tokens supported by assets and fall under the regulation. Don Doni believes that “security-tokens use the blockchain to allow efficient transactions, as cryptocurrency, but differ on the remaining options, providing a stable value, unlike volatile cryptocurrency”.
So, last year on the website Indiegogo was hosted platform offering investors the security tokens of the shares of the prestigious ski resort that brought $ 18 million, according VentureBoat.
Senior analyst at eToro also spoke optimistically about the tokenization of financial markets:
“In the next decade we can observe the tokenization of the entire financial market… Everything has value and addresses may be represented by the digital token to be traded on the blockchain”
Recall that at the end of the year, the Central Bank of China has invalidated the process of conducting STO. Meanwhile, the scope of security tokens continues to gain momentum: the stock exchange of Malta and the largest in the world in terms of trading the crypto currency exchange Binance signed an agreement on the joint launch of the new digital exchanges to trade tokens in securities.