DX.Exchange to allow trading of Nasdaq-listed companies

Monday 7 January 2019 11:11 CET | News

DX.Exchange, an Estonia-based crypto startup, has announced its plans to let its clients indirectly purchase shares of major companies through a token-based platform.

The startup mentioned that it would launch its trading platform on 7 January 2019, and the goal is to allow its clients to purchase crypto tokens representing shares in different tech companies listed on the Nasdaq exchange. Customers will be able to use fiat currencies to purchase the tokens, as well.

The company will use Nasdaq’s matching engine in order to facilitate the trading of digital securities, and to protect against market manipulation. Their customers will not be purchasing ownership of shares directly, but will purchase tokens, which represent shares in a company.

Moreover, MPS Marketplace Securities, which is in agreement with DX.Exchange, will purchase the real-world stocks based on customer demand, and generate ERC-20 tokens to represent each share. The actual shares would be stored in a segregated account separate from any of MPS’ internal funds or usage. MPS will fall under the supervision of the Cyprus Securities and Exchange Commission, while DX.Exchange will abide by European Union regulations and authorities.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: DX.Exchange, NASDAQ, trading, cryptocurrency, Estonia, Token, startup, fiat currencies
Countries: World