By Hannah Lang
Oct 8 (Reuters) – Digital asset company Securitize 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)
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