Nasdaq to Provide Price Feed to Tokenized Stock Trading Venture DeFiChain
- The exchange joins Finnhub in providing services to DeFiChain

The firms will offer tokenized stocks to the underlying price of US-listed major companies such as Apple, Tesla, Amazon and GameStop. Cryptos will collateralize such assets, the statement shared with Bloomberg reads. “This will open the door to many people who are frustrated by traditional markets. As a community, we’re excited about that,” Julian Hosp, a Co-Founder of DeFiChain, commented in an interview.
Furthermore, the service will use DeFiChain’s native token, DFI, alongside Bitcoin (BTC), Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including gold, silver, or others. Advantages of StablecoinsOf note, stablecoins redeemable in currency, commodities, or fiat money are also said to be backed, whereas those tied to an algorithm are not considered to be so.There are several advantages of asset backed crypto. First, these coins are stabilized by assets that fluctuate outside of the crypto space, that is. This can help mitigate the financial risk associated with these assets.For example, Bitcoin and altcoins are highly correlated, so that cryptocurrency holders cannot escape periodic price falls. Stablecoins control for this vulnerability, allowing for the diversification of risk in a portfolio.Stablecoins also possess a mechanism for redeeming the asset backing them. This grants an additional level of confidence associated with the coin and are unlikely to drop below the value of the underlying physical asset, due to the effects such as arbitrage.For example, fiat-pegged coins are coins that are tied to a specified amount of fiat currency, usually on a one-to-one ratio (i.e.1 StablecoinX = $1). The companies that issue these currencies must have fiat reserves in the equivalent amount of the stablecoins they have issued.Crypto-pegged stablecoins constitute coins that are tied to a specified amount of another cryptocurrency, such as Bitcoin or Ethereum. Algorithmic stablecoins use supply-and-demand to automatically maintain a stable value. Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including gold, silver, or others. Advantages of StablecoinsOf note, stablecoins redeemable in currency, commodities, or fiat money are also said to be backed, whereas those tied to an algorithm are not considered to be so.There are several advantages of asset backed crypto. First, these coins are stabilized by assets that fluctuate outside of the crypto space, that is. This can help mitigate the financial risk associated with these assets.For example, Bitcoin and altcoins are highly correlated, so that cryptocurrency holders cannot escape periodic price falls. Stablecoins control for this vulnerability, allowing for the diversification of risk in a portfolio.Stablecoins also possess a mechanism for redeeming the asset backing them. This grants an additional level of confidence associated with the coin and are unlikely to drop below the value of the underlying physical asset, due to the effects such as arbitrage.For example, fiat-pegged coins are coins that are tied to a specified amount of fiat currency, usually on a one-to-one ratio (i.e.1 StablecoinX = $1). The companies that issue these currencies must have fiat reserves in the equivalent amount of the stablecoins they have issued.Crypto-pegged stablecoins constitute coins that are tied to a specified amount of another cryptocurrency, such as Bitcoin or Ethereum. Algorithmic stablecoins use supply-and-demand to automatically maintain a stable value. Read this Term USD Coin (USDC), and other virtual currencies. Nasdaq has been active in terms of inking partnerships over the last few months. For example, Finance Magnates reported in July that the exchange teamed up with several private banks, SVB Financial Group, Citi, Goldman Sachs, and Morgan Stanley, to form a joint venture to establish a secondary trading venue of private company stocks.
Recent Partnerships and Financial Results
Nasdaq will spin out of its existing Nasdaq Private Market, which will offer existing technology, client relationships and regulatory infrastructure, into a separate entity to form the joint venture. Moreover, Nasdaq’s financials had been performing well, as its results for the second quarter of 2021, between April and June, revealed a 21 percent year-over-year gain in its net revenue. In absolute terms, this figure came in at $846 million.
Additionally, the company detailed that it generated $104 million or 15 percent of its revenue from organic growth, while $27 million was added from the inclusion of revenues from Verafin, which Nasdaq acquired in Q1. Furthermore, the firm gained another $16 million from favorable changes in FX rates. Though Nasdaq is known for operating one of the United States’ largest stock exchanges, it has massive operations in other areas of financial services as well.
The firms will offer tokenized stocks to the underlying price of US-listed major companies such as Apple, Tesla, Amazon and GameStop. Cryptos will collateralize such assets, the statement shared with Bloomberg reads. “This will open the door to many people who are frustrated by traditional markets. As a community, we’re excited about that,” Julian Hosp, a Co-Founder of DeFiChain, commented in an interview.
Furthermore, the service will use DeFiChain’s native token, DFI, alongside Bitcoin (BTC), Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including gold, silver, or others. Advantages of StablecoinsOf note, stablecoins redeemable in currency, commodities, or fiat money are also said to be backed, whereas those tied to an algorithm are not considered to be so.There are several advantages of asset backed crypto. First, these coins are stabilized by assets that fluctuate outside of the crypto space, that is. This can help mitigate the financial risk associated with these assets.For example, Bitcoin and altcoins are highly correlated, so that cryptocurrency holders cannot escape periodic price falls. Stablecoins control for this vulnerability, allowing for the diversification of risk in a portfolio.Stablecoins also possess a mechanism for redeeming the asset backing them. This grants an additional level of confidence associated with the coin and are unlikely to drop below the value of the underlying physical asset, due to the effects such as arbitrage.For example, fiat-pegged coins are coins that are tied to a specified amount of fiat currency, usually on a one-to-one ratio (i.e.1 StablecoinX = $1). The companies that issue these currencies must have fiat reserves in the equivalent amount of the stablecoins they have issued.Crypto-pegged stablecoins constitute coins that are tied to a specified amount of another cryptocurrency, such as Bitcoin or Ethereum. Algorithmic stablecoins use supply-and-demand to automatically maintain a stable value. Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including gold, silver, or others. Advantages of StablecoinsOf note, stablecoins redeemable in currency, commodities, or fiat money are also said to be backed, whereas those tied to an algorithm are not considered to be so.There are several advantages of asset backed crypto. First, these coins are stabilized by assets that fluctuate outside of the crypto space, that is. This can help mitigate the financial risk associated with these assets.For example, Bitcoin and altcoins are highly correlated, so that cryptocurrency holders cannot escape periodic price falls. Stablecoins control for this vulnerability, allowing for the diversification of risk in a portfolio.Stablecoins also possess a mechanism for redeeming the asset backing them. This grants an additional level of confidence associated with the coin and are unlikely to drop below the value of the underlying physical asset, due to the effects such as arbitrage.For example, fiat-pegged coins are coins that are tied to a specified amount of fiat currency, usually on a one-to-one ratio (i.e.1 StablecoinX = $1). The companies that issue these currencies must have fiat reserves in the equivalent amount of the stablecoins they have issued.Crypto-pegged stablecoins constitute coins that are tied to a specified amount of another cryptocurrency, such as Bitcoin or Ethereum. Algorithmic stablecoins use supply-and-demand to automatically maintain a stable value. Read this Term USD Coin (USDC), and other virtual currencies. Nasdaq has been active in terms of inking partnerships over the last few months. For example, Finance Magnates reported in July that the exchange teamed up with several private banks, SVB Financial Group, Citi, Goldman Sachs, and Morgan Stanley, to form a joint venture to establish a secondary trading venue of private company stocks.
Recent Partnerships and Financial Results
Nasdaq will spin out of its existing Nasdaq Private Market, which will offer existing technology, client relationships and regulatory infrastructure, into a separate entity to form the joint venture. Moreover, Nasdaq’s financials had been performing well, as its results for the second quarter of 2021, between April and June, revealed a 21 percent year-over-year gain in its net revenue. In absolute terms, this figure came in at $846 million.
Additionally, the company detailed that it generated $104 million or 15 percent of its revenue from organic growth, while $27 million was added from the inclusion of revenues from Verafin, which Nasdaq acquired in Q1. Furthermore, the firm gained another $16 million from favorable changes in FX rates. Though Nasdaq is known for operating one of the United States’ largest stock exchanges, it has massive operations in other areas of financial services as well.