Crypto exchange FTX is following Binance’s lead in offering tokenized stocks. The stocks will run on the Solana blockchain.
- The tokenized stocks are available for trading now on FTX. Switzerland-based Digital Assets (DAAG) is providing the stock infrastructure.
- Earlier this year, Binance started trading tokenized versions of stocks of Tesla, Apple and Coinbase.
- FTX said buyers and sellers in permitted jurisdictions will be able to trade about 55 free-floating stocks.
- Stocks of Facebook, Google, Netflix, Nvidia, PayPal, Square and Tesla are among those available.
- “FTX is always looking to provide cutting-edge products to its users. DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure and we’re excited to continue working with Solana and DAAG to set the standard in this industry,” FTX CEO Sam Bankman-Fried said.