DX.Exchange that is based in Estonia is a digital trading platform that just recently added tokenized Exchange-Traded Funds (ETFs) as a part of their services according to a press release that we are presenting you in our crypto news today.
This decision involves the tokenization of the popular ETFs such as SPY and QQQ which back the Nasdaq Composite. Other ETFs include UWT crude oil and UDOW as well. All of the exchange-traded funds can be purchased for crypto or fiat during trading hours.
According to the press release, the adding of tokenized ETFs on DX.Exchange complies with the guidelines issued by the European Securities and Markets Authority but also with the EU markets in Financial Instruments Directive II.
Amedeo Moscato, the chief operating officer at DX.Exchange says:
“As of today, there’s over 130 Billion USD worth of Crypto that can now be invested in Digital Stocks and ETFs. Crypto investors who wished to hedge part of their crypto portfolio had only USD stable coins or limited options. Now they can invest in real world assets on the blockchain.”
By adding ETF trading to the platform means there is a higher chance for the investor to be attracted and to have a larger benefit from a lower-cost venue when executing the trades. Also, the platform aims to allow smaller retail investors to enter the market.
DX.Exchange first showed up in May 2018 as an idea but was launched in January 2019. The platform uses Nasdaq’s Financial Information Exchange Protocol in order to deliver products more efficiently.
Trading with the exchange is only available for residents in the European Union but the company wants to expand into the United States Market soon.
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