Crypto Startup puts Tesla, Apple other Public Stocks on Blockchain
In an attempt to integrate the cryptocurrency exchange and the traditional stock market, an exchange is set to launch which is headquartered in Estonia. The exchange is called DX.Exchange. And according to reports, it plans to tokenize the existing stock market and integrate it with the cryptocurrency market.
Crypto And Stock Exchange
DX.Exchange aims to be an exchange that offers investors both cryptocurrency coins as well as stock options. They want to bridge the gap between the two by putting them both on the same platform and allowing users to pick and choose between the two.
The DX.Exchange will allow users all over the world to buy tokenised shares of 10 renowned companies that are listed on NASDAQ. DX.Exchange will allow them to do so by buying tokenised securities.
The companies that are going to be listed on the DX.Exchange, as well as NASDAQ, are; Apple Inc., Facebook Inc., and Tesla Inc among others. The other names are yet to be released but are supposedly of the same stature.
SEC Cannot Interfere
One of the biggest cause of apprehension among community when DX.Exchange was initially announced, was the SEC’s involvement. The SEC has been conducting quite a few crackdowns on the cryptocurrency market and the ICO sector in particular and has everyone worried about the future of the cryptocurrency market.
But the fact that DX.Exchange is being headquartered in Estonia solves that problem for DX.Exchange because they are out of the jurisdiction of the SEC. And the fact that they are means that the SEC does not have the power to pull back this exchange even though they are providing American stocks to others.
The icing on the cake is that the users on the DX.Exchange is unaffected by the SEC and also enjoy the exact same privileges and security that users on the stock market enjoy.
DX.Exchange has Regulatory Go Ahead
DX.Exchange has all its documents in place. They believe that issuing and selling Ethereum based tokens for large companies will work very well for them because it revolutionises the market and also bridges the gaps between them.
They believe that issuing Ethereum based tokens will be widely popular all over the world because, while enjoying the benefits of a decentralised system, they will also get the same security and protection under the law that normal investors in the stock market get.
DX.Exchange will have two offices; one if Estonia and one in Israel. Their launch is expected to happen over the next week.