Bittrex Global to offer all stocks that Robinhood delisted

2021-1-31 18:12

A few days ago, as the short squeeze caused by the Reddit-based group, Wall Street Bets, was at its height, trading app Robinhood decided to remove stocks that the group was mass-purchasing in an attempt to stand up to institutional investors. The move was heavily criticized, and it serves as another reminder of why centralized platforms are so important to replace.

Now, a crypto trading platform, Bittrex Global, decided to bring these delisted stocks back on its own exchange.

Bittrex makes a move to help retail stock traders

According to Bittrex Global’s recent press release, the company has tokenized stocks for GameStop (GME), as well as other companies that Wall Street Bets supported, and Robinhood delisted. That includes AMC Entertainment, Nokia, iShares Silver Trust, and BlackBerry.

Not only that, but Bittrex also said that it will continue to list tokenized stocks of any firm that trading platforms delist to deny access to retail investors.

Platforms such as Robinhood and Interactive Brokers removed stocks from their lists following the short squeeze in order to place them out of the grasp of retail investors, and in favor of institutions that were losing money while acting out in greed.

Blockchain to bring financial inclusion

By using the abilities of blockchain technology, Bittrex aims to make stocks available to retail investors at any time, and in doing so — ensure equal financial inclusion. On top of that, it will also be able to offer instant settlements for any trades, but also lower trading fees than traditional platforms.

“We intend to list every stock that gets delisted from platforms like Robinhood, so that even small investors have the same opportunities afforded to multibillion-dollar financial institutions,” the platform noted. It further said that the current situation further confirms the narrative that financial institutions are rigged against regular people.

Blockchain — and an extent decentralization and digital currencies — will finally put retail investors on equal footing with institutional investors, according to Bittrex Global CEO, Tom Albright.

The post Bittrex Global to offer all stocks that Robinhood delisted appeared first on Invezz.

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