The digital trading platform Etoro (ETOR) shared plans on Tuesday to tokenize the actions listed in the United States on Ethereum blockchain, joining competitors to move to blockchain-based markets.
The ERC-20 tokens will represent the underlying actions held on Etoro and may be bought in traditional stock titles, according to the press release. The company said that the objective was to make actions negotiable on a chain and compatible with decentralized financing applications (DEFI), opening the door to market access 24 hours a day.
“Our goal is to tokenize each asset on etoro – Starting with stocks – Allow our users to move assets to tokenized on the blockchain and from there integrate them into the wider challenge ecosystem, “CEO Yoni Assia said in a press release.” “”
He said new cryptographic regulations such as mica in Europe and stable engineering acts in the United States “makes the tokenization of real assets a new opportunity to create digital assets which are legally supported and regulated”.
This decision will put Etoro alongside a growing list of commercial sites that have recently introduced token actions. Competient Robinhood announced token traffic in shares for European users last month, while several crypto scholarships, including Kraken, Gemini, also started similar features.
Etoro said that his tokenized scholarship can be obtained on the experiences spent in the tokenization, the acquisition of Danish token firtup startup in 2019 and the launch of token gold and silver.
Read more: Robinhood pushes more deeply in the crypto with its own blockchain, the launch of tokenized stocks
