Digital Assets AG, a Swiss based firm is bringing a tokenized stoke infrastructure to the Solana blockchain.
Additionally, it is launching first free-floating tokens for risk-free, compliant transfer of tokenized stokes exclusively on FTX.
Brandon Williams, Corporate Development Lead at Digital Assets AG, says, “The move from operating on a private blockchain to operating on Solana will offer a much more efficient, and cost-effective environment for the trading and utilisation of tokenised stocks”.
“We envision the entirety of traditional finance and capital markets being able to operate on the blockchain and Solana was the obvious choice”.
At present, these tokenized stokes provide users limited options such as only exchange or private blockchian -users can only open and close positions. They are restricted to make withdrawal, or transfer cross chain or to an external party.
With the release of Digital Assets AG free floating tokenized stokes on Solana, it will be possible to make exchanges based on centralized/decentralized to those built on the Solana blockchain.
Sam Bankman-Fried, founder and CEO of FTX says, “FTX is always looking to provide cutting edge products to its users. DAAG’s tokenised 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”.
During the launch, FTX will offer limited jurisdictions for KYC’d buyers and sellers to buy, sell and withdraw the free-floating stokes in trading cycle of 24/7/365. The popular stokes that available to them include Facebook, Google, Netflix, Nvidia, PayPal, Square and Tesla.
DAAG has gotten the authority from the Financial Market Authority (FMA) of Liechtenstein to validate their tokenized Stocks in any countries of the European Economic Area (EEA).
Anatoly Yakovenko, CEO of Solana Labs, says, “We are excited to have DAAG launch tokenized stocks on the Solana blockchain as it is clear this is the future of financial innovation as we work together to bridge traditional finance with decentralization.”
“DAAG is primed to expand the financial technology that can be built on Solana, with DeFi products ready to support these new equity tokens.”
Free-floating tokens represent the number of shares of any given asset available to the public. This excludes locked-in shares like those held by company executives and governments.
DAAG is at currently providing the tokenized stockers services along with broker API and fractional shares, integrated with FTX, BInance and Bittrex Global.
See also: Hong Kong based FTX to launch crypto tokens of Google, Facebook, and Tesla
