- Nasdaq-powered DX.Exchange allows traders to buy tokenized stocks of global companies
- The platform went live on January 7, 2019
- The platform also announced support for altcoins such as Enigma, OmiseGo, and Digibyte
In a series of Tweets, published on January 6, 2019, the newly launched Nasdaq-powered cryptocurrency exchange DX.Exchange revealed the trading pairs users can trade in. Some of the prominent stocks on the platform include the likes of Apple, Microsoft, Google, and Tesla, among others.
Are tokenized stocks the future?
As reported previously by BlockchainReporter, on January 3, 2019, DX.Exchange is the first of its kind trading platform which enables investors to trade in equity stocks of companies listed on Nasdaq, NYSE, and others through cryptocurrencies.
The exchange has the backing of the EU and went live on January 7, 2019.
In a Tweet published on January 6, 2019, the team behind DX.Exchange revealed that its users will be able to trade shares of prominent global companies like Amazon, Baidu, Google, Apple, Facebook, Netflix, Intel, Nvidia, and Tesla.
DX.Exchange also made announcements pertaining to crypto-to-crypto and crypt-to-fiat trading pairs. The platform extended its support for Litecoin, stating that it can be traded in pairs of LTC/BTC, LTC/ETH, and LTC/USD. Support for Ripple’s XRP was also announced by the Estonian trading exchange, with pairs of XRP/BTC, XRP/ETH, XRP/EUR, XRP/JPY, and XRP/USD available for trade to the users.
Notably, users of the platform are required to pay a fee of $10 per month to enjoy the services.
The newly launched platform also announced support for other altcoins, including Enigma (ENG), Digibyte (DGB) and OmiseGo (OMG). All three cryptocurrencies can be traded in pairs with BTC, ETH, and USD.
Shortly after the official launch of the platform, DX.Exchange’s CEO, Daniel Skowronski Tweeted that support for Cardano (ADA), and Tether (USDT) will be announced soon.
We are Live. We are slowly opening deposits and withdrawals on each of the pairs. We will have ADA and Tether enabled later. Please be patient as we work through the process. Thank you for all your support.
— Daniel Skowronski (@danskowronski) January 7, 2019
2019 Could pave the way for Crypto Adoption
While 2018 was nothing short of a rollercoaster ride for the infant digital currencies industries, 2019 could prove to be the year of tangible results. In fact, many businesses already sowed the seeds during the last year, and one can expect to see working products this year.
Keen observers of the industry are already aware of the launch of highly-anticipated Bitcoin futures trading platform Bakkt, scheduled to go live in January 2019. In addition, Fidelity Investment’s crypto trading desk is also slated to launch in mid-2019, which could attract large institutional interest towards the emerging asset class.
With regard to crypto exchanges, BlockchainReporter reported on December 6, 2018, how the VC arms of corporate juggernauts like Fidelity and Nasdaq threw their weight behind ErisX, a new cryptocurrency exchange which slated to launch this year.