Estonia-based cryptocurrency exchange DX.Exchange announced its plans for launching a new trading platform which will allow its users to trade tokenized shares in various Nasdaq-listed companies. The tokens will become tradable for crypto and fiat currencies on January 7, 2019.
At launch, the shares in 10 companies, namely, AlphaBet, Apple, Amazon.com, Facebook, Microsoft Corporation, Tesla, Netflix, Baidu, Intel Corporation and Nvidia will be purchasable on the platform. MarketPlace Securities Ltd. will be tasked with the issuance of real shares-backed digital tokens under Cyprus Securities and Exchange Commission’s control and supervision. The resulting ERC-20 tokenized shares will be compatible with Ethereum blockchain.
DX.Exchange will implement the existing solutions developed by Nasdaq, namely, purchase order and transaction processing algorithm and DIX protocol providing for message exchange between market makers and buyers, in order to maintain secure and high-speed online communication. DIX protocol will allow for p2p tokenized shares trading on DX.Exchange.
The platform also announced its plans for expansion and prospective integration with New York, Tokyo and Hong Kong Stock Exchanges.
Notably, Boerse Stuttgart Group, the second largest stock exchange in Germany, has recently announced its intention to launch a cryptocurrency trading platform in the first half of this year. The exchange has already partnered with fintech firm solarisBank to develop digital asset trading infrastructure.