Securitize launches blockchain-based stocks

By Hannah Lang

Oct 8 (Reuters) – Digital asset company Securitize is launching blockchain-based tokenized stock trading in major listed companies like Apple, Nvidia and Microsoft, with tokens backed by underlying shares, the company said on Thursday.

• Securitize will initially launch its tokenized stocks on the solana blockchain.

• The company said it expects its tokenized stocks will also trade on NYSE’s forthcoming round-the-clock trading venue, as well as a planned trading venue developed by crypto exchange OKX and Intercontinental Exchange.

• Securitize Stocks preserve investor rights and economic benefits associated with owning a company’s shares, Securitize said.

• The stock products will be available to eligible investors in the US, European Union and other permitted jurisdictions.

• Securitize Stocks will initially be available to trade during extended trading hours, with plans to offer 24/7 availability in the future.

• The crypto industry says tokenizing securities could revolutionize markets by allowing shares to be traded 24/7 and settled instantly, boosting liquidity and reducing transaction costs.

• Although many tokenized stock products overseas are marketed like stocks, they rarely offer the same rights, disclosures and protections as traditional equities.

(Reporting by Hannah Lang in New York;Editing by Elaine Hardcastle)