DeFiChain, a Decentralized Financial platform based on the Bitcoin network, was provided pricing feeds by Nasdaq, on September 10, 2021.
Finnhub and Tiingo report having provided their prices to DeFiChain.
From a legal standpoint, the few rocky months of tokenized stocks. However, this does not prevent legacy financial institutions and proponents of decentralized finance (DeFi) from striking new collaborations.
Bloomberg has also reported that Nasdaq, Finnhub, and Tiingo will provide a pricing feed to DeFiChain.
Users can trade tokenized stocks that reflect publicly traded companies like Tesla, Amazon, and Apple. In a similar vein to the now-retracted Binance offering, earlier this year tokenized stocks can now purchase in sections rather than whole, needing a physical share certificate to Fractional shares gives ordinary investors an advantage because buying common stock from well-known firms is costly.
Cryptocurrencies back the tokenized stocks. It eliminates the need for a middleman and can obtain decentralized loans. When buying tokenized equities, the bearer does not own the underlying assets, which trades 24 hours a day. Making shares tradeable 24/7 allows them to profit from price movements.
DeFiChain, a decentralized stock trading system, uses DFI, Bitcoin (BTC), and USD Coin (USDC), a dollar-pegged stablecoin. The platform’s co-founder, Julian Hosp, said it would provide a wealth of alternatives for anyone dissatisfied with established markets. However, increased interest in DeFi means advocates like Hosp will have to confront authorities.
Platforms like DeFiChain are bringing the minority market into the mainstream.
As a result, it expects that more money will pour into these giant corporations’ stocks than it has in the past. As of the second quarter of 2021, the total value of DEXs was $404.9 billion. This total value is the most outstanding amount in the market’s history, illustrating DeFi’s tremendous expansion.
The SEC was looking into the business behind Uniswap, the world’s largest decentralized bitcoin exchange. The platform delisted hundreds of coins and tokenized stocks in late July, citing regulatory pressure.
Stock token sales ban due to pressure from Hong Kong’s securities regulator. Reports that European and British officials were looking into alleged securities law violations contributed to the suspension.