DX.Exchange Partners With MPS to Provide First Crypto ETFs
- The cryptocurrency exchange says it is the first company to have tokenized ETFs
Cryptocurrency exchange DX.Exchange has launched trading in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term traded funds (ETFs). According to the firm's website, these new 'tokenized' ETFs are the first of their kind.
“Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term will continue to evolve, and digital stocks are another step in that process," said Daniel Skowronski, CEO of DX.Exchange. “By tokenizing real world stocks, we are helping millions of the untradeable to be tradeable.”
A trader using DX.Exchange will be able to go on to their account and buy ETFs, or fractions of an ETF, with cryptocurrency.
The ETFs can be traded 24/7, have zero commission fees attached to them and can be liquidated at any time.
Europe now, US later
That is being made possible because of the exchange's partnership with a company called MPS Marketplace Securities.
According to a statement on the DX.Exchange website, MPS is going to be buying ETFs at a 1:1 ratio with DX's ETF tokens.
That means traders will, in a roundabout way, actually be accessing the ETF market as opposed to just buying some sort of derivative product.
The new tokens are, for the moment, only available to investors in Europe. But, in January of this year, Skowronski said via Twitter that the service would be available to US traders by the end of 2019.
Cryptocurrency exchange DX.Exchange has launched trading in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term traded funds (ETFs). According to the firm's website, these new 'tokenized' ETFs are the first of their kind.
“Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term will continue to evolve, and digital stocks are another step in that process," said Daniel Skowronski, CEO of DX.Exchange. “By tokenizing real world stocks, we are helping millions of the untradeable to be tradeable.”
A trader using DX.Exchange will be able to go on to their account and buy ETFs, or fractions of an ETF, with cryptocurrency.
The ETFs can be traded 24/7, have zero commission fees attached to them and can be liquidated at any time.
Europe now, US later
That is being made possible because of the exchange's partnership with a company called MPS Marketplace Securities.
According to a statement on the DX.Exchange website, MPS is going to be buying ETFs at a 1:1 ratio with DX's ETF tokens.
That means traders will, in a roundabout way, actually be accessing the ETF market as opposed to just buying some sort of derivative product.
The new tokens are, for the moment, only available to investors in Europe. But, in January of this year, Skowronski said via Twitter that the service would be available to US traders by the end of 2019.