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‘Tokenized’ Tesla, Google, and Apple shares are coming to Solana (SOL)

Digital Assets AG, a Swiss-based firm focusing on the design, structure, and issuance of tokenized financial instruments, announced today that it is bringing its tokenized stock infrastructure to the Solana blockchain.

at launch, FTX will be the exclusive home for KYC’d buyers and sellers in permitted jurisdictions to buy, sell and withdraw the 55 free-floating stocks in a year-round, uninterrupted trading cycle with near-instantaneous settlement and no counterparty risk. They will also be able to make transfers to secondary markets without restriction.

Popular stocks that will be immediately available for trading include Facebook, Google, Netflix, Nvidia, PayPal, Square, and Tesla.

“The move from operating on a private blockchain to operating on Solana will offer a much more efficient, and cost-effective environment for the trading and utilization of tokenized stocks,” said Brandon Williams, Corporate Development Lead at Digital Assets AG, in a statement .

He added, “We envision the entirety of traditional finance and capital markets being able to operate on the blockchain and Solana was the obvious choice.”

Trading stonks on Solana

Tokenized stocks can currently be traded on a singular entity such as an exchange or private blockchain and only give users the option to open or close positions.

These are, however, restricted by constraints such as the inability to make withdrawals, or transfer cross-chain or to an external party.

But, with the launch of Digital Assets AG tokenized stocks on Solana, centralized and decentralized exchanges built on the Solana blockchain will be able to add tokenized stock trading to their platforms.

Sam Bankman Fried, founder and CEO of FTX, said in a statement that DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure. “We’re excited to continue working with Solana and DAAG to set the standard in this industry,” he added.

Free-floating tokens are regulatory-approved security tokens that can be used for tokenized stock trading. They represent the number of shares of any given asset available to the public excluding locked-in shares, such as those held by company executives and governments.

Currently, DAAG is integrated with FTX, Binance, and Bittrex Global where they offer services such as tokenized stocks, broker API, and fractional shares.

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