In the near future, crypto money investors will be able to buy and sell the shares of giant names such as Apple and Amazon through a Bitcoin exchange. FTX, one of the largest cryptocurrency exchanges; It will allow its users to trade in the tokenized form of these shares.
According to the Bloomberg report, the Bitcoin exchange called FTX has rolled up its sleeves to offer a new financial product to crypto money investors. The company decided to tokenize the shares of some large companies after its studies. FTX will receive support from two different companies, Germany-based CM Equity AG and Switzerland-based Digital Assets AG.
Shares of giant names can be bought and sold
Crypto investors using the FTX exchange will also be able to trade tokenized shares through this exchange. According to the information transferred, in addition to companies such as Apple and Amazon, the shares of giants such as Facebook, Netflix and Tesla are planned to be tokenized.
FTX CEO Sam Bankman-Fried believes the company’s move will bring great convenience to investors. Stating that most people have difficulty in buying and selling stocks and entering the stock market, Bankman-Fried believes that this process will be facilitated by FTX.
How exactly will it be treated?
FTX, a Bitcoin exchange, will not allow people to directly buy and sell shares. Instead, tokenized versions of these shares will be put up for sale. The underlying asset of these share tokens that FTX will sell on the stock exchange will be managed by CM Equity.
Bloomberg noted that these tokens resemble a receipt or even an exchange traded fund. Users will pay a certain service fee to the exchange while performing these transactions, but there will be no extra costs other than this. It was stated that the registration process will start on Thursday, and the trading transactions will start very soon.