Securitize launches blockchain-based stocks

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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