DX Exchange Will Use Nasdaq’s FX Protocol to Offer Tokenized Stocks with Ethereum Blockchain

2019-1-4 21:10

It looks like 2019 is gearing up to be a year of progression and innovation, as the crypto industry seeks out ways that institutional investors can get involved.

Many analysts have been predicting that the entry of these players into the crypto market will be what saves it, and it looks like one exchange has taken that idea to heart – DX Exchange.

DX is based in Estonia, and powered by Nasdaq, and they have decided to create a way that allows investors to purchase shares of major firms with tokens.

The trading platform will soon be launched on January 7th, and it affords an opportunity to purchase crypto tokens, which are representative of the shares. These shares would coordinate with tech firms that are already listed with the Nasdaq exchange.

Though the purchases would not involve all crypto assets, investors would have the option of select cryptos and fiat currencies in an effort to purchase the tokens on the DX exchange.

As this project operates, they intend to employ the matching engine from Nasdaq to help with the process of trading, though it is also meant as a preventative measure to stop market manipulation. Instead of actually owning the shares, the investors will have access to tokens that represent the shares, according to COO Amedeo Moscato. Continuing, he noted,

“Henceforth, when they become a token holder, they own stocks or portions of the company’s stock, as the tokens are backed 1:1 to the real-world stocks. That makes them entitled to the same cash dividends that the stocks are worth.”

Ultimately, the intention is for this exchange to offer both stock services and P2P crypto trading.

During these transactions, DX Exchange’s partner MPS Marketplace Securities, Ltd. purchases the stocks and creates the corresponding ERC-20 tokens as the representative assets, based on the demand from investors. Instead of sharing the same funds internally with MPS, they will be in a separate account to protect the company from potential problems.

While MPS will be governed by the Cyprus Securities and Exchange Commission, DX Exchange will need to abide by the regulations set forth in European Union.

When the launch begins MPS plans have shares from the following tech companies in their possession: AlphaBet, Apple, Amazon.com, Baidu, Facebook, Intel Corporation, Microsoft Corporation, Netflix, Nvidia, and Tesla. Along with the matching engine from Nasdaq, SX Exchange plants to employ the financial information exchange (FIX) protocol from Nasdaq as well.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Safe Exchange Coin (SAFEX) на Currencies.ru

$ 0.0054306 (-0.25%)
Объем 24H $1.742k
Изменеия 24h: 1.41 %, 7d: -8.63 %
Cегодня L: $0.0053635 - H: $0.0055227
Капитализация $6.099m Rank 99999
Цена в час новости $ 0.0061948 (-12.34%)

looks crypto like exchange involved one get

looks crypto → Результатов: 126


Economist Expects Wild Fluctuations on the Dow Jones in 2019 as Crypto Looks to Make Its Mark

According to Mohamed El-Erian, the chief economic adviser at Allianz SE, says that the Dow Jones could experience wild fluctuations in the coming months. Although many other investors believe that we might experience a recession in the near future, El-Erian considers that these concerns are exaggerated. The US economy will continue to grow during 2019, […]

2019-1-1 23:54


Tron (TRX) founder appears to suffer from inferiority complex while VeChain claims to be financially stable despite the downturn in crypto markets

Inferiority complex is by definition an unrealistic feeling of general inadequacy caused by actual or supposed inferiority in one sphere, sometimes marked by aggressive behaviour in compensation. It looks like Tron founder Justin Sun suffers from one such psychological state as he keeps spouting out huge numbers in a hitherto failed effort to amaze broader […] The post Tron (TRX) founder appears to suffer from inferiority complex while VeChain claims to be financially stable despite the downturn in crypto markets appeared first on CaptainAltcoin.

2018-12-18 21:46


Ether Price Analysis: Untested Support Leaves Shaky Foundation During Drop

Much like the rest of the crypto market, ether has found itself devalued by more than 90% since its all-time high of $1,400 back in December of 2017. And now, almost a year later, ether sits just above $100 on what appears to be shaky ground during its latest round of selling over the last few weeks:Figure 1: ETH-USD, Daily Candles, Rapid DescentSimilar to bitcoin’s movement discussed in yesterday’s article, ETH-USD experienced a parabolic growth profile during its bull run.

2018-11-28 01:55


The Crypto Exchange Heist Case Continues: Mt Gox Trustee Attempts To Extend Rehabilitation Deadline

The Case Continues: Mt Gox Trustee Seeks To Extend Civil Rehabilitation Claims Deadline Sometimes, it looks like the Mt Gox story won’t ever end. Nobuaki Kobayashi, a trustee of Mt Gox, a collapsed Bitcoin exchange, is currently asking for an extension of the deadline in the process of filing for civil rehabilitation claims. He wants […]

2018-11-26 00:31


Фото:

Report: Cryptocurrency Related Lawsuits Skyrocketed in 2018; Up by 300 Percent

In contrast with the bear market we have watched throughout the year it seems that cryptocurrency-related lawsuits have skyrocketed as far up to 300 percent, reports Dior, November 19, 2018. Crypto Lawsuits Go North While bitcoin continues to go south, the business for digital currency focused lawyers looks to have a bright future ahead.

2018-11-23 16:00


ConsenSys Blockchain Company Looks to Assist Token Foundry as Crypto Bear Market Hurt Their Model

The bearish market of 2018 has been unkind to cryptocurrencies, and it does not seem like any company has gone without casualties. Joe Lubin, the co-founder of Ethereum, has been working to support his ConsenSys platform, a crypto venture studio, even as one of its budding projects has been suffering. Their Token Foundry platform has […]

2018-11-14 05:30