Bittrex Global along with DAAG unveils Tokenized Stock Trading

By Pavithra R

Bittrex Global, a leading cryptocurrency exchange, has announced listing tokenized stocks on its digital asset exchange in cooperation with DigitalAssets.AG (DAAG). 

The product will allow traders and investors to have direct access to listed companies without depending on external broker or pay extra fees. Shares can be purchased using either Bitcoin (BTC), US dollars (USD), or Tether (USDT), 24hours a day, 7 days a week.

The tokenized stocks are available through Bittrex Global and will allow customers to purchase a fraction of a stock without needing to purchase entire shares, where the underlying risk of the tokens is derived from the tokenized company. Bittrex Global plans to increase their offerings quickly by giving its customers exposure to ETFs, indices, and additional asset classes.

Bittrex Global’s customer base can now purchase and trade the following tokenized stocks: SPDR S&P 500 ETF (SPY), Alibaba (BABA), Tesla (TSLA), Beyond Meat Inc (BYND), Google (GOOGL), Amazon (AMZN), Pfizer (PFE), Apple (AAPL), BioNTech (BNTX), Facebook (FB), Netflix (NFLX), and Bilibili (BILI).

“The traditional stock exchanges of the world’s financial capitals have for centuries set the terms for engagement and trading. Clearing systems are inefficient and complex and trading small volumes can be expensive and take days, all of which is totally unnecessary given the technological advances that have been made in the last decade. Blockchain technology has the potential to radically broaden access to financial services, and Bittrex Global is very proud to provide people with a portal to build their capital and private wealth in a way that was unimaginable a decade ago,” said Bittrex Global’s CEO Tom Albright.

The tokenization of stocks is the initial step towards creating more dynamic and accessible markets where securitized token offerings (STOs) has the potential to harness more mature and varied investors. Tokenized stocks can be traded alongside over 250 digital assets listed on the Bittrex Global exchange and marks a significant milestone in the adoption of blockchain technology by traditional financial services.

Founded in 2014, Bittrex Global is an international digital asset trading platform providing lightning-fast trade execution, dependable digital wallets and industry-leading security practices. The company aims to introduce customers to one-of-a-kind blockchain projects that have the potential to transform the way people interact with technology and services globally.