NASDAQ Stock-Offering DX.Exchange Launches Today

Estonia-based cryptocurrency exchange DX.Exchange, anticipated for its tokenization of NASDAQ stocks and using its matching engine, has released its full list of trading pairs as it sets to launch today.

Initial pairs set to be available on the day of launch include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA)OmiseGO (OMG)Enigma (ENG), ShareToken (SHR), and DigiByte (DGB). All coins will be paired against the USD, while Cardano and XRP will also be paired against the Yen, and XRP and DigiByte against the Euro. According to the team, 500,000 users have already pre-registered.

Having spoken to Bloomberg earlier, CEO Daniel Skowronski said,

We saw a huge market opportunity in tokenizing existing securities. We believe that this is the beginning of the traditional market’s merge with blockchain technology. This is going to open a whole new world of trading securities old and new alike.
Just as significantly, the exchange will offer tokenized forms of shares of some of the biggest companies on NASDAQ: Apple, Amazon, Baidu, Facebook, Google, Intel, Microsoft, Netflix, Nvidia, and Tesla.

Tokenized shares on the exchange give international investors another entry into NASDAQ, which is perhaps equally, if not more, appealing as being able to trade on a regulated platform that charges no trading fees (and several major exchanges charge quite a high fee). However, the lack of trading fees is accounted for by a subscription service of $10 a month. Furthermore, traders can buy and sell these shares 24/7.

For those investors hesitant about crypto investment due to a lack of regulation, DX.Exchange can be attractive because it fully follows EU regulation. It also offers crypto-to-fiat deposits and withdrawals, another essential feature that establishes accessibility.

On the face of it, it appears that DX.Exchange is trying to marry the traditional financial market with the tokenization possibilities of blockchain. Although the companies are not involved, each virtual stock will be an actual stock and benefit from cash dividends. The stocks will be managed by MPS Marketplace, which has been given the license to do so by Cyprus’ financial regulator.

DX.Exchange currently has offices in Estonia and Israel, and plans to expand to Hong Kong and Tokyo. The incorporation of the New York Stock Exchange is also being planned.

The exchange’s performance will be interesting to watch, as many exchanges are vying for investor attention.

Author: Abhimanyu Krishnan
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Ripple (XRP) To Gain Further Liquidity With Listing On Nasdaq Powered DX.Exchange

Brad Garlinghouse, in his interview with CNBC during the European tour of the Money 20/20 event, stressed the importance of Ripple’s (XRP) liquidity when banks use xRapid for international payment settlements.

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The same liquidity is what XRP has been attaining by getting listed on numerous exchanges and wallets. The most recent listings being ZebPay, Revolut, and SBI Virtual Currencies (VCTRADE).

Therefore, it is no suprise that XRP has received enormous support in terms of being listed in the yet to be launched, DX.Exchange. XRP managed to achieve this through a facebook poll conducted by the exchange in a manner that is true to decentralization. The Ripple facebook community voted overwhelmingly to have their favorite coin listed in the exchange.

DX.Exchange had this to say via twitter with respect to the poll and listing of XRP on its platform:
“”Here’s the winner of our Facebook Poll: @Ripple will be available when DX.Exchange launches and an essential part of our community. #exchangeyourway
The announcement was accompanied by a video that gives a brief history of Ripple and its achievements in terms of giving almost instant payment settlement solutions across the globe.””

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The DX.Exchange is being built on Nasdaq’s market leading matching technology and is currently carrying out pre-registrations on its website. When launched, the exchange will allow individuals and institutions to purchase cryptocurrencies with fiat; trade crypto on the platform; as well as converting them back to fiat. The exchange is licensed in Estonia under the Estonian Ministry of Economic Affairs and Communication. With transparency and security as key ethos by the exchange, user funds and information will be secure on the platform through the use of advanced encryption.

With respect to the market performance of XRP, the coin is currently valued at $0.674 and up 2% in 24 hours at the moment of writing this. The general feel in the crypto-markets is of stability with Bitcoin (BTC) back at the the welcome levels of $7,600. The total market capitalization of the crypto-markets has also maintained levels of above $330 Billion for the first half of this week. All fingers are crossed that this value will not subside, but rather continue to increase during the month of June.

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Author: MaxPositives
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