Securitize launches blockchain-based stocks
Securitize launches blockchain-based stocks By Hannah Lang
Oct 8 (Reuters) - Digital asset company Securitize SECZ.N is launching blockchain-based tokenized stock trading in major listed companies like Apple, Nvidia and Microsoft, with tokens backed by underlying shares, the company said on Thursday.
Securitize will initially launch its tokenized stocks on the solana blockchain.
The company said it expects its tokenized stocks will also trade on NYSE's forthcoming round-the-clock trading venue, as well as a planned trading venue developed by crypto exchange OKX and Intercontinental Exchange.
Securitize Stocks preserve investor rights and economic benefits associated with owning a company's shares, Securitize said.
The stock products will be available to eligible investors in the US, European Union and other permitted jurisdictions.
Securitize Stocks will initially be available to trade during extended trading hours, with plans to offer 24/7 availability in the future.
The crypto industry says tokenizing securities could revolutionize markets by allowing shares to be traded 24/7 and settled instantly, boosting liquidity and reducing transaction costs.
Although many tokenized stock products overseas are marketed like stocks, they rarely offer the same rights, disclosures and protections as traditional equities.
(Reporting by Hannah Lang in New York;Editing by Elaine Hardcastle)
((Hannah.Lang@thomsonreuters.com;))
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