The "Bittrex" digital currency trading platform announced that it will list the shares of "Tesla" on its platform in cooperation with the company "DigitalAssets.AG", the latter specialized in digitizing traditional assets and converting them into cryptocurrencies.
According to the source, the move will allow traders and investors to invest in companies listed in the United States without paying additional fees or using traditional brokerage services.
Tesla digital coin stocks are a new age derivative product that represents traditional securities.
For your information, such a product was not available earlier, but progress in development and expansion of blockchain uses contributed to this.
Mr. Tom Albright, CEO of Bittrex, said:
Blockchain technology has the potential to radically expand access to financial services, and Bittrex Global is proud to provide people with a portal to build their own capital and wealth in a way that would have been unimaginable a decade ago.
According to the announcement, more than 12 popular shares of American companies will be displayed on the "Bittrex" trading platform, including "Tesla", "Google", "Facebook" and "SPY", which is a fund that is traded on the stock exchange consisting of the best 500 American companies.
Shares can be bought in dollars, tether, or bitcoin, and will be traded around the clock, unlike traditional exchanges.
The new product would allow customers to purchase as little as $ 10 in coded stock.
She told Bittrex that market liquidity, or the number of buyers and sellers trading an asset at a particular time, could vary depending on the time of day.
Shares that are digitized and encoded as cryptocurrencies derive the same value from shares.
However, it cannot be exchanged for the real stock initially but a future update may change that.
At the same time, Bittrex said it plans to increase its symbolic offerings and include more financial products, such as ETFs, indices and additional asset classes, in the near future.
