BLUE CHIP STOCKS TRADING ON BLOCKCHAIN

Among the stocks available to be traded on the Solana blockchain are Facebook, Apple, Google, Amazon, Netflix, Nvidia, PayPal, Square, and Tesla.

Digital Assets AG is bringing tokenized stocks for 55 companies to Solana. DAAG (Digital Assets AG) a the Swiss firm provides free-floating stocks on exchanges like Binance and FTX, as well as on private blockchains. Free-floating tokens are regulated assets that represent the publicly issued supply of those shares.

The FTX trading platform in partnership with Alameda Research will be hosting the trade of these stocks using the Solana Blockchain. The securities prospectus of DAAG Tokenized Stocks is endorsed by the Financial Market Authority (FMA) of Liechtenstein, making the stocks valid in the European Economic Area.

According to a press release shared with Crypto Briefing, FTX will pilot trading DAAG’s stock tokens on Solana. Any users who complete the exchange’s KYC process and live in permitted jurisdictions will be able to trade the tokens.

Sam Bankman owner of Alameda Research said “DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure, and we’re excited to continue working with Solana and DAAG to set the standard in this industry.”

Tokenized stocks are not new in the crypto world. FTX, Binance, and Bittrex Global enable trading of multiple stock and commodity tokens, but the tokens are not transferable across platforms. DAAG’s stock launch will allow for transfers to the secondary market, external apps, other Solana addresses, or applications, opening the gateway for access in DeFi applications.