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Bittrex Launches Stocks Trading On Basis of Tokenized Securities Pegged With Fiat, BTC And USDT

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Dec 7, 2020
Bittrex Launches Stocks Trading On Basis of Tokenized Securities Pegged With Fiat, BTC And USDT

Bittrex offers now trading services for stocks relating to Tesla, Apple, Amazon etc. on its exchange.

 A recent news item suggested that Bittrex had recently extended its scope of stock trading. In this extension, the trading platform had enlisted stocks relating to some of the giant companies of the world. For instance, the newly added stocks included stocks of Tesla, Apple, and Amazon. Some other high profile companies’ stocks available for trading included Netflix, Google, Pfizer, Facebook etc.

Bittrex further informed that those willing to conduct stock trading for these unlisted companies will be offered multiple benefits. It was told that the customer wouldn’t be charged any extra fee and would need not to engage any broker externally.

The news further revealed that enlistment of stocks of these companies was made possible through joint efforts by Bittrex and DigitalAssets.AG. Both companies joined hands together in an effort to launch tokenized shares which can then be bought by anyone. These tokenized shares had been pegged with US Dollar and Tether (USDT) and can be bought infractions. For the purposes of purchase, a trader had also been allowed to use Bitcoin for stocks trading at Bittrex.

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It was further informed that the trading platform will give passage to foreign customers who had no access to stocks markets of the US earlier. Those who are enlisted as customers with Bittrex can now explore stock trading markets of the US.

Mr. Tom Albright, Bittrex’s CEO, also said that the accustomed clearing systems were relatively tedious and largely inefficient. He stated that in the ordinary clearing system, low-volume trading was found to be significantly risky and time taking. Resultantly, unnecessary delays were witnessed which would have been avoided otherwise by using digital technology, he said.

According to Albright, purchasing of stocks through tokenized currencies is the rule of today which continues to grow exponentially. He referred to FTX which had earlier announced enlistment of equities on the basis of tokenized currencies. Similarly, Terra – a platform for stablecoin – too had introduced new tokenized protocols called Mirror.

In a statement, Bittrex told that its current initiative is part of the company’s aim towards developing trading projects which are based on tokenized securities. This will provide more opportunities to individual investors to access fertile and lucrative tokenized stock markets.

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