The Future of Purchasing Apple and Facebook Stock on Ethereum


A cryptocurrency exchange by the name of DX.Exchange has recently launched stocks trading for giant companies such as Facebook, Tesla, and Apple next week, so companies will be able to trade outside of the US even when the stock markets are closed.

The Works

According to information provided by Bloomberg, the exchange will offer digital assets based on a share of 10 Nasdaq-listed companies, where each token is backed by a share and holders will be entitled to same cash dividends, even though the companies aren’t involved themselves.

The actual shares will be purchased and held b partner MPS MarketPlace Securities Ltd, a worldwide, multi-asset broker-dealer, with the tokens being based on Ethereum network, with the amount corresponding to demand on the exchange.

This move will serve as a test run to see if it can entice investors for cryptocurrency solutions to traditional stock problems, such as foreign investors who are having trouble accessing to shares on US-based companies. The company is currently licensed by the Estonian Financial Intelligence Unit with complete authorization to operate in the European Union. As they have no operations in the US, CEO of the company Daniel Skowronski states, he doesn’t require permission from the Americans to offer this service.

The exchange holds offices in Estonia and Israel but does plan to extend into the New York Stock Exchange along with Tokyo and Hong Kong.

“We saw a huge market opportunity in tokenizing existing securities,” the CEO told Bloomberg in an email. “We believe that this is the beginning of the traditional market’s merge with blockchain technology. This is going to open a whole new world of trading securities old and new alike.”

Currently, the exchange is offering cryptocurrency trading for a monthly membership fee of $20 USD, reduced down by $10 if paid in DXCash, which is the platform’s native digital token. The monthly membership offers traders to trade for free with no additional fees up to $50,000 in volume per month, but the exchange still charges any additional fees for anything past the limit.


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at keith@cryptomenow.com

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