Around 14:30 UTC on Monday (January 7th), DX.Exchange, a new revolutionary regulated European cryptocurrency exchange went live. What makes DX.Exchange, which has offices in Estonia and Israel, unique is that for the first time you can now trade cryptocurrencies (including XRP) and popular Nasdaq stocks (in tokenized form), such as Apple, Facebook, and Tesla, on the same platform.
DX.Exchange announced that it had gone live via this tweet:
DX.Exchange has launched with support for 10 cryptocurrencies and 10 "digital stocks" (implemented as ERC-20 tokens on the Ethereum blockchain).
The 10 cryptocurrencies are Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), OmiseGo (OMG), Dash (DASH), DX Coin (DXCASH), Enigma (ENG), and DigiByte (DGB). For XRP, the following trading pairs are available: XRP/BTC; XRP/ETH; XRP/USD; XRP/EUR; and XRP/JPY.
The 10 Nasdaq stocks you can buy with fiat (USD) are Facebook (FB), Intel (INTC), Amazon (AMZN), Baidu (BIDU), Apple (AAPL), NVIDISA (NVDA), Netflix (NFLX), Microsft (MSFT), Tesla (TSLA), and Google (GOOGL).
Since these are tokens backed 1:1 by shares in these companies, which are bough/sold via a Cyprus-based intermediary called MPS MarketPlace Securities Ltd, it is possible to buy fraction of a stock (subject to certain minimum order limits). In case you are worried what would happen should something happen to MPS MarketPlace Securities, DX.Exchange wants you to know that the stocks owned by this intermediary are held in a segregated account.
For example, in the case of Facebook stock, which at press time is trading around $138.10, the minimum order amount is 0.15 of a token, while in the case of Amazon stock, which is trading around $1,616.14, the minimum order amount is 0.015.
Once you have selected an asset (either a cryptocurency or a digital stock), you can get "Asset Info" (e.g. market cap, 24-hour volume, size of circulating supply, and a timeline of relevant events) and "News Sentiment" ("The ratio of Bullish vs Bearish news over the past week" + "media buzz"). For example, in the case of XRP, here are the these two screens:
If you are wondering if/when DX Exchange will be available to U.S. customers, DX Exchange CEO Daniel Skowronski would like you to have a little bit of patience:
Daniel Skowronski, the CEO of DX.Exchange, had this to say about the tokenization of stocks:
“Crypto currencies and STO’s will continue to evolve, and digital stocks are another step in that process. We at DX will continue to drive innovation and work hand in hand with regulatory bodies to improve and push the crypto space forward.”
And DX.Exchange COO Amedeo Moscato stated:
"I am confident that the crypto community will be curious and fascinated to buy and sell bitcoin, go back to fiat and then have the opportunity to invest into the Google Token for example. One of the big Revolution offered by our new product, thanks to the Blockchain technology, is that our customers can buy a fraction of the Amazon Token and are not forced to buy a whole stock. All this, also off market hours and 7 days a week."
All Images Courtesy of DX.Exchange