Cryptocurrency exchange Bittrex has announced listing of tokenized stocks on its trading platform.
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According to an official press release, Bittrex will allow users to trade tokenized assets thanks to a cooperation with DigitalAssets.AG. With the new product, users will get direct access to listed companies without having to use an external broker or pay additional fees, the company said.
Tokenized shares can be purchased with US dollars (USD), tether (USDT) or bitcoin (EXANTE: Bitcoin). Tom Albright, Bittrex Global’s CEO, says the traditional stock exchanges have for centuries "set the terms for engagement and trading."
"Blockchain technology has the potential to radically broaden access to financial services, and Bittrex Global is very proud to provide people with a portal to build their capital and private wealth in a way that was unimaginable a decade ago," he added.
Initially, the exchange will add the following tokenized stocks: Tesla (TSLA), SPDR S&P 500 ETF (SPY), Alibaba (BABA), Beyond Meat Inc (BYND), Pfizer (PFE), Apple (AAPL), BioNTech (BNTX), Facebook (FB), Google (GOOGL), Netflix (NFLX), Amazon (AMZN) and Bilibili (BILI).
The exchange highlights the tokenized stocks are available even in countries where accessing US stocks through traditional financial instruments is not accessible.
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