Estonia-based crypto and digital trading platform DX Exchange will begin offering tokenized stocks on the Ethereum blockchain. The new service allows cryptocurrency users to buy tokens, and these tokens represent actual stocks. Investors will be able to invest in Nvidia, Facebook, Amazon and Tesla using their crypto portfolio.
This makes DX the first to offer this type of trading, completely regulated by the European Union. According to a press release DX will be using Nasdaq’s Financial Information Exchange (FIX) to deliver the product. It took the exchange approximately seven months to move from a finished concept to their actual product.
Trading on DX Exchange is free for $50.000 trading volume. Till $100.000 there’s a 0.25% fee, and till $500.000 the fee is 0.20%. Upon making an account clients need to pay a 20 dollar monthly membership fee, or 10 dollars when paid in DXCash. The website of the exchange also mentions fees for fiat deposits and withdrawals.
Besides the earlier mentioned companies, stocks for companies like Intel, Baidu, Netflix, Apple and Microsoft are also available. These can be bought with a variety of cryptocurrencies, including BTC, ETH, BCH, XRP, LTC, DASH, DGB, OMG, ADA and USD Tether.
DX Exchange can be accessed through its own website, and apps for iOS and Android.
Also published on Medium.