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DX.Exchange Adds Tokenized ETFs To Its Services.

In line with a recent official press release, DX.Exchange – Estonia based popular crypto trading platform has added tokenized ETFs [Exchange-Traded-Funds] to its services.

This new move involves the tokenization of renowned ETFs, alike SPY, that represents the S&P 500, and QQQ, which backs the Nasdaq Composite at a ratio of  1:1. UWT [crude oil] and UDOW are among several other ETFs  provided on the platform. The ETFs offered can now be purchased both for cryptocurrencies and fiat via in trading hours as well as after-hours.

In line with the announcement, the introduction of tokenized ETFs on DX.Exchange complies both with the ‘new guidelines‘ and tips issued by the EU SMA [Securities and Markets Authority] along with the EU Markets in Financial Instruments Directive II.

Amedeo Moscato, the chief operative officer of DX.Exchange, declared that he believes that the newest move by the EU-regulated company opens the space of popular financial assets to cryptocurrency holders. His statement reads as follow:

“As of today, there’s over $130 Bln USD worth of Cryptocurrencies which can presently be invested in Digital Stocks and ETFs. Crypto investors who wished to hedge a part of their crypto portfolio had solely USD stable coins or restricted options. But now, they can invest in real world-wide assets on the blockchain.”

DX.Exchange further states that adding ETFs trading to the platform can attract investors seeking to profit from a lower-cost venue for executing their trades. Moreover, this choice can reportedly assist smaller retail investors or investors from developing countries to enter the market.

DX.Exchange primarily ‘appeared‘ as a concept, earlier in May last year and was launched later in Jan. of this year. The firm uses ‘Nasdaq’s‘ monetary information Exchange protocol to deliver its products.

As reported earlier, the corporate initially planned that crypto holders purchase tokens backed by stocks in several major firms, together with Amazon, Baidu, Apple, Facebook, Google, Intel, Microsoft, Netflix, Nvidia and Tesla.

The ETFs based trading at the Estonian exchange is presently solely available for traders within the European Union. However, the corporate plans to make trading available to United States-based customers in 2019, in line with an earlier ‘tweet‘ from its co-founder and chief executive officer, earlier in Jan.

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