Digital Assert AG (DAAG), a company from Swiss belonging is going to launch crypto tokens crypto exchange FTX.
One can purchase from Tesla, Google, Facebook and other crypto tokens of US-based companies through the Hong kong-based FTX crypto exchange.
Around 55 such free- floating security tokens will be available for the users for trading. They can exchange the tokens that are built on Solona blockchain.
These tokens have been launched with underlying collateral of $100 million by the Swiss company Digital Assert AG.
The Hong based FTX crypto exchange is following Binance and Bittrex’s lead by allowing its users to trade in those US based tokenized stokes.
All the tokenized stokes will be moved to Solana from a private blockchain. Solana, as per the DAAG, is very efficient and cost effective.
(About Solana: Anatoly Yakovenko, ex-qualcomm exployee launched this as a platform back in 2017 to solve the matter of decentralization, security and scalability. Ethereum addresses decentralization and security whereas Bitcoin has scability and security.)
Brandon Williams, the DAAG’s corporate development, said in a statement. “There is no reason the settlement of a stock trade should take two days or a company going public should have to spend tens of millions of dollars to get listed on a national exchange.”
So, you can trade with any exchanges (that are available on FTX for now) built on the Solana blockchain in the future.
DAAG has gotten the approval to allow all countries within the European Union as well as Iceland, Liechtenstein, Norway and Croatia- to trade on tokenized platforms.
However, purchasing US company stokes is not easy for the people living outside the country. The time difference is the major factor – the investors might have to stay up the entire night to trade.
For those who find difficult to access US stokes, the crypto tokes will be an alternative to them. A crypto exchange like FTX will be open 24 hours a day and 365 days a year- meaning there is no space of holiday.
When stoke is bought, trader is free to withdraw and subsequently deposit the token to their own crypto wallets.
BInance claims, owing tokens does not mean that you transfer any shareholder rights to the investors. But, as per FTX and Bittrex’s claims, there is no guarantee that the stockholders receive dividends.