Solana is a decentralized blockchain project known for its high development support. In association with DAAG, it is planning to launch about 55 digitized stocks of the largest companies in the United States. The Digital Assets AG is a crypto enterprise based in Munich, Germany. It specializes in the issuance of digitized stock tokens. These tokenized stocks would be available for users on several crypto exchange platforms.
The users would have to get past the KYC protocol for getting exposure to the new stocks. The 55 Blue Chips that are selected for stock tokenization include names like Facebook, PayPal, Nvidia, Apple, Tesla, Netflix, Square Inc., among others. The first crypto exchange to facilitate these token is FTX. At the same time, Binance and some others are also lining up to host these tokenized stocks.
Liechtenstein Regulators would be Providing the Backup for Solana Digitized Tokens
The digitally pegged securities are under the financial and legal supervision of the Financial Market Authority of Liechtenstein. This would ensure that these digital stocks have grounds for trading in Europe within the established Economic Area. The FTX exchange has also issued a press conference for a public briefing of the prospect traders.
Those who are residents under the jurisdiction of FMA and the Europe Economic Area would be able to trade these digital securities. The FTX provides a DeFi application deployment area for the Solana network projects. It is owned by Sam Bankman Fried. Fried also has the Alameda Research institute under his wing.
CEO of Solana Labs Claims that DeFi Products are in Perfect Condition to Host the New Equity Tokens
Anatoly Yakovenko is the CEO of Solana Labs. In a new media briefing, he claimed that DAAG has the perfect DeFi application support that is required to host the digitized stock tokens. Meanwhile, Fried opines that the current partnership would cause a paradigm shift in the market. It would change the meaning of traditional and digital trading forever.
More tokenized stocks are making their way into the crypto space. After FTX, other crypto exchanges like Binance and Bittrex Global are at the forefront of introducing more of these variants. It should be noted that these equity tokens cannot travel from one network to another. However, DAAG is the first blockchain development project that would allow the new digital stocks to have this capability.