FOREX NEWS

HOMEFOREX NEWS

Google, Facebook, and Tesla crypto tokens are launching on crypto exchange FTX.

Hong Kong-based FTX exchange is following Binance and Bittrex’s lead by allowing its users to trade in US-based tokenised stocks including  Google, Facebook, Tesla, Netflix, and Nvidia.

The company says that moving DAAG's tokenized stocks from a private blockchain to Solana will be more efficient and cost effective.

This means that, while these stocks are currently exclusively available on FTX, they will be exchanged on any Solana blockchain-based market in the future, such as the decentralised exchange Serum.

And FTX is no stranger to trading tokenized stocks. On the eve of Coinbase's public listing in April, it revealed the company's pre-IPO contract on its platform.

When you can buy genuine stock, why buy crypto tokens for companies?

Americans may find it simple to purchase US firm stocks, but that is not the case for individuals living outside the nation. Furthermore, because of the time difference, an investor on the opposite side of the planet would have to remain up all night to trade.

Crypto tokens provide an alternative to investors who do not have quick or inexpensive access to US stocks. A cryptocurrency exchange such as FTX is open 24 hours a day, 365 days a year, with no market holidays.

Traders will be able to withdraw and deposit their tokens into their own crypto wallets — software tools that assist keep cryptocurrencies discreetly — rather than on cryptocurrency exchanges once they have purchased a stock.

If you buy crypto tokens instead of stocks, do you still get dividends?

Owning tokens, according to Binance, does not provide investors any shareholder rights. FTX and Bittrex, on the other hand, claim to be working to ensure that stockholders receive dividends, albeit this isn't a guarantee.

Who can invest in Google, Facebook, and other digital assets?

Unlike Binance, DAAG has received regulatory authorisation from the Liechtenstein Financial Market Authority to allow users in the European Economic Area (EEA) to trade on tokenised platforms. The EEA includes all countries in the European Union, as well as Iceland, Liechtenstein, Norway, and Croatia.

All jurisdictions, with the exception of the United States, Iran, North Korea, and Syria, are eligible to apply for tokenized stock access.

So, what exactly is Solana?

Anatoly Yakovenko, an ex-Qualcomm employee, founded the Solana platform in 2017. The goal of the blockchain is to solve the "impossible trinity" of decentralisation, security, and scalability.

Only decentralisation and security are addressed by Ethereum, whereas scalability and security are addressed by Bitcoin. Neither of them is capable of resolving the entire trinity.

Investors are also interested in seeing where the tale leads. The crypto firm raised $314 million earlier this month. Outside of initial coin offerings, it was the fourth-largest fundraising round in crypto history (ICOs).

Alameda Research, Blockchange Ventures, and others contributed to the round, which was led by venture capital companies Andreessen Horowitz and Polychain Capital.

Leave a Comment :


CANCEL
Trustpilot

We will provide you latest market updates and analysis, for that you can JOIN OUR TELEGRAM CHANNEL and get daily profit and more facilities. If you want to JOIN TELEGRAM CHANNEL, click here to join.