Tokenized Stocks of Tesla, Facebook, Google Launched on Solana Blockchain
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Tokenized Stocks of Tesla, Facebook, Google Launched on Solana Blockchain

June 25, 2021      Sahaj Sharma

Digital Assets AG, a company based in Switzerland has introduced tokenized stocks of Tesla, Facebook, and over 50 other traditional stocks on the Solana blockchain. Well, the tokenization of the stocks represents the traditional financial stocks that are transferable to any entity on the Solana blockchain.

Digital Assets AG Launches Tokenized Stocks on Solana Blockchain

Be it the tokenized stock of any firm such as Apple, MicroStrategy, Tesla, Google, or Facebook, it allows the customer to purchase company shares as crypto tokens. The Corporate Development Lead at Digital Assets AG, Brandon Williams mentioned that these movable stock tokens:

“will bridge the traditional finance and decentralized finance (DeFi).”

Until now, the tokenized stocks were only available to trade on either private blockchains or crypto exchanges such as Binance and Bittrex.

Earlier, only taking positions in the stocks was permitted, the user was not allowed to move the token across chains and send them to external entities.

However, the recently launched transferable tokenized stocks on Solana Blockchain will be allowing the exchanges developed on it, be it centralized or decentralized exchange to add tokenized stock trading to their platforms.

Advantages of Tokenized Stocks

Talking about the advantages of tokenized stocks over the traditional alternatives is that the traders will now be able to withdraw and afterwards, deposit their stock tokens to their own crypto wallets. 

From there, the traders will be provided with an option to move stock tokens to Defi and trade them anytime on Serum, a decentralized exchange built on the Solana blockchain.

In addition to this, the traders will be able to utilise those tokens in the creation of their own smart contracts on Defi that are like funds and reallocate the positions automatically that is of great use for the Decentralized Autonomous Organizations.

Along with this, Williams said that the firm has acquired the mandatory green light from the financial authorities to launch in Switzerland and European countries.

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#Facebook #Google #Solana blockchain #Tesla #Tokenized Stocks
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.