Securitize launches blockchain-based stocks
FILE PHOTO: A specialist trader is reflected on his screen on the floor of the New York Stock Exchange August 25, 2015. REUTERS/Brendan McDermid/File photo
Oct 8 : Digital asset company Securitize is launching blockchain-based tokenized stock trading in major listed companies like Apple, Nvidia and Microsoft, with tokens backed by underlying shares, the company said on Thursday.
• Securitize will initially launch its tokenized stocks on the solana blockchain.
• The company said it expects its tokenized stocks will also trade on NYSE's forthcoming round-the-clock trading venue, as well as a planned trading venue developed by crypto exchange OKX and Intercontinental Exchange.
• Securitize Stocks preserve investor rights and economic benefits associated with owning a company's shares, Securitize said.
• The stock products will be available to eligible investors in the US, European Union and other permitted jurisdictions.
• Securitize Stocks will initially be available to trade during extended trading hours, with plans to offer 24/7 availability in the future.
• The crypto industry says tokenizing securities could revolutionize markets by allowing shares to be traded 24/7 and settled instantly, boosting liquidity and reducing transaction costs.
• Although many tokenized stock products overseas are marketed like stocks, they rarely offer the same rights, disclosures and protections as traditional equities.
