FTX launches trading in tokenized shares of large companies

by in Cryptocurrency News

FTX CEO

FTX Crypto Derivatives Exchange Launches Tokenized Stock Trading. The exchange will enable users to buy stakes in companies such as Tesla, Amazon, Apple, Facebook, and Netflix.

Fractional stock trading allows you to buy less than one share. FTX has partnered with German finance company CM-Equity and Swiss asset tokenization solutions provider Digital Assets AG (DAAG).

Sam Bankman-Fried, CEO of FTX, said the offer is aimed at investors who have difficulty accessing stocks through traditional markets. “A lot of people find it quite difficult to access stocks,” he said. "There are ways to do this, but they seem old and awkward."

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He added that a lot of clients have been asking for a stock trading feature for a long time. CM-Equity and DAAG helped bring this proposal to fruition.

“CM-Equity holds shares. Their tokens are then traded on FTX and can be exchanged for shares," said Bankman-Fried. "CM-Equity is a licensed entity and provides compliance for all clients and transactions."

DAAG, which helps its clients tokenize financial products, has played a “key role” in forging the partnership between CM-Equity and FTX. In September, the Bitfinex crypto exchange announced the launch of derivatives for stock indices, which are calculated in the stablecoin Tether (USDT).