FTX Follows Binance's Lead With Move Into Tokenized Stocks

Sam Bankman-Fried’s FTX will allow users to trade tokenized stocks of companies such as Facebook, Google, Netflix, Nvidia, PayPal and Tesla.

Jun 24, 2021 at 1:11 p.m. UTC
Updated Sep 14, 2021 at 1:16 p.m. UTC

Crypto exchange FTX is following Binance’s lead in offering tokenized stocks. The stocks will run on the Solana blockchain. 

  • The tokenized stocks are available for trading now on FTX. Switzerland-based Digital Assets (DAAG) is providing the stock infrastructure.
  • Earlier this year, Binance started trading tokenized versions of stocks of Tesla, Apple and Coinbase. 
  • FTX said buyers and sellers in permitted jurisdictions will be able to trade about 55 free-floating stocks. 
  • Stocks of Facebook, Google, Netflix, Nvidia, PayPal, Square and Tesla are among those available.
  • “FTX is always looking to provide cutting-edge products to its users. DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure and we’re excited to continue working with Solana and DAAG to set the standard in this industry,” FTX CEO Sam Bankman-Fried said.

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