Swiss-based Digital Assets AG launches tokenized stock products on Solana

The Swiss-based token issuer Digital Assets AG or DAAG has officially launched its stock tokenization infrastructure on the Solana blockchain, providing users of the FTX trading platform with a new way to enter the traditional stock market.

Digital Assets AG announced on Thursday that during the initial launch period, FTX users who completed the “Know Your Customer” document will have access to 55 freely floatable stocks, available 24 hours a day, 365 days a year. This means that users in approved jurisdictions will be able to buy, sell and withdraw assets at any time.

Freely floatable stocks are assets that have obtained regulatory approval for trading on a tokenized platform. As DAAG explains, they represent the number of shares in a given asset and do not include locked shares, such as shares held by company executives.

This Tokenized stock issuance DAAG stated that the prospectus approved by the Liechtenstein Financial Market Authority is valid in the European Economic Area (EEA).

DAAG executive Brandon Williams explained his company’s reasons for launching Solana:

“The transition from operating on a private blockchain to operating on Solana will provide a more efficient and cost-effective environment for the trading and utilization of tokenized stocks […] We envision that the entire traditional financial and capital markets can operate on the blockchain, and Solana is the obvious choice. ”

At the same time, FTX has provided tokenized stock trading. As Cointelegraph reported, FTX launches Coinbase pre-IPO contract The company went public on the eve of April.

Sam Bankman-Fried, founder and CEO of FTX, said: “DAAG’s tokenized equity infrastructure will help promote a paradigm shift in the underlying market structure…”

related: Metaplex NFT market launched on Solana

Solana has received strong support from investors, venture capitalists and other market participants.Encrypted start Recently raised $314 million From several high-profile investors to accelerate the development of its high-performance blockchain. Andreessen Horowitz and Polychain Capital led the investment, as well as additional donations from companies such as Alameda Research, Blockchange Ventures, CMS Holdings, and CoinShares.