Coinfield Implementing XRP Ledger to Popularize Traditional Stocks
Cryptocurrency exchange, CoinFielf announced it will unveil stocks and crypto asset trades through the XRP ledger. The exchange will implement the ledger (XRPL) to popularize the accessibility of particular traditional stock. In addition, CoinField will open trading for these stocks as well on its new platform. The new platform dubbed Sologenic will list exchange traded funds (ETFs) and several assets from a diverse portfolio of stocks exchanges across the world. In the long, CoinField also plans to host other available stablecoins on the platform. Coinfield’s Ceo, Bob Ras noted the following in relation to the platform:
It’s an ecosystem, merging traditional financial market assets – non-blockchain financial systems – with crypto assets. We offer our customers the ability to tokenize any asset on demand. Users can tokenize over 30,000 stocks and ETF.”Bob claimed that the platform was a wonderful means to collaborate the traditional stocks sector with the crypto currency sector.A press release went on to add that the main focus is to support trading of ‘on demand tokenized assets.’ Once Sologenic is floated to the public, shares from leading tech company Apple, and automotive and energy giant Tesla; will be among the initial offerings available on its listing.
CoinField digital Currency Solo (Ƨ) On XRP ledgerIn fact, CoinField will leverage its new digital currency, the Solo (Ƨ) as a way to link the digital assets to traditional stocks.The Solo sign (Ƨ) will be marked upon shares on the platform to represent Sologenic offerings. As a result, and for instance Apple Inc’ stock on the platform will list as AAPLƧ and not AAPL. Fundamentally, CoinField will eventually tokenize all non blockchain assets that are available on Sologenic.
The platform is currently in its development stages and could go live somewhere in the first quarter of 2020 via an Initial Exchange Offering (IEO). Ras further noted that regardless of location , any platform user could tokenize any asset and benefit from the XRP network. Ras told Decrypt:
“We offer users ability to tokenize any asset, or fiat. A user from, say, Japan can tokenize fiat on top of XRPL and they can move their funds almost instantly to the XRP blockchain. We’re helping [with the] mass adoption of cryptocurrencies, and we get more users to invest in the stock market.”
Bottom lineSolo coins will be available on the main CoinField exchange. Additionally, the platform is also considering setting up services for its decentralized exchange along the second quarter of 2019.
About The Author
Mary BrendahMy first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.
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