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Jeudi 24 Juin 2021

Digital Assets AG Launches Tokenized Stocks on the Solana Blockchain, Available Exclusively on FTX


Disclaimer: The text below is a press release that was not written by Finyear.com.
Avertissement : Le texte ci-dessous est un communiqué de presse qui n'a pas été rédigé par Finyear.com.



For the first time, shares of leading tech and traditional finance stocks will be represented by a transferable token on the Solana public blockchain

Digital Assets AG (https://digitalassets.ag/), a leading Swiss-based firm focusing on the design, structure, and issuance of tokenized financial instruments, today announced that it is bringing its tokenized stock infrastructure to the Solana blockchain. Additionally, it will launch the first free-floating security tokens allowing the risk-free, compliant transfer of tokenized stocks exclusively on FTX during its initial debut.

“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 utilization of tokenized stocks,” said Brandon Williams, Corporate Development Lead at Digital Assets AG. “We envision the entirety of traditional finance and capital markets being able to operate on the blockchain and Solana was the obvious choice.”

Currently, tokenized stocks can be traded on a singular entity such as an exchange or private blockchain and only give users the option to open or close positions, but are restricted by constraints such as the inability to make withdrawals, or transfer cross-chain or to an external party. With the launch of Digital Assets AG free-floating tokenized stocks on Solana, centralized and decentralized exchanges built on the Solana blockchain will be able to add tokenized stock trading to their platforms.

“FTX is always looking to provide cutting edge products to its users. DAAG’s tokenized 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,” said Sam Bankman-Fried, founder and CEO of FTX.

At launch, FTX will be the exclusive home for KYC’d buyers and sellers in permitted jurisdictions to buy, sell and withdraw the 55 free-floating stocks in a 24/7/365 trading cycle with near-instantaneous settlement and no counterparty risk. They will also be able to make transfers to secondary markets without restriction. Popular stocks that will be immediately available for trading include Facebook, Google, Netflix, Nvidia, PayPal, Square and Tesla. With a securities prospectus endorsed by the Financial Market Authority (FMA) of Liechtenstein, DAAG Tokenized Stocks are valid in the European Economic Area (EEA).

“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,” said Anatoly Yakovenko, CEO of Solana Labs. “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 are regulatory-approved security tokens that can be used for tokenized stock trading. They represent the number of shares of any given asset available to the public excluding locked-in shares, such as those held by company executives and governments. Currently, DAAG is integrated with FTX, Binance, and Bittrex Global where they offer services such as tokenized stocks, broker API, and fractional shares.

About Digital Assets AG
Digital Assets AG (DAAG) is a leading Swiss-based firm focusing on the design, structure, and issuance of tokenized financial instruments. By offering a regulatory compliant, API driven, and scalable infrastructure framework that creates a new dimension and limitless user experience in financial markets, Digital Assets AG is driving innovation in capital markets and building a bridge between traditional finance and centralized finance sectors. DAAG has provided tokenized equities with fractional ownership to partners such as FTX, Alameda, Bittrex, and more.
digitalassets.ag

About Solana
Solana is the most performant blockchain in the world. It gives developers the confidence to build for the long term by delivering predictable scaling without compromising security or composability. Solana’s performance is driven by intra-shard parallelism, which is capable of processing thousands of smart contracts at once, and by Proof of History, an innovation in distributed timekeeping that unlocks low-latency, sub-second finality across the global state.
solana.com

About FTX.COM
FTX.COM is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX.COM strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative exchange in the industry. FTX.COM has grown quickly since its founding, becoming one of the most respected cryptocurrency exchanges in the world in less than 2 years.
ftx.com

FTX.COM is not available to US residents or residents of other prohibited jurisdictions, as set out in its Terms of Service.



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