Bittrex to launch tokenised stock trading

Bittrex Global (Bermuda) will list tokenised stocks on its digital asset exchange in cooperation with DigitalAssets.

This product gives traders and investors direct access to listed companies without the need for an external broker. The tokenised stocks will allow customers to purchase a fraction of a stock without needing to purchase entire shares. The underlying risk of the tokens is derived from the tokenised company.

Shares can be purchased using either US dollars (USD), tether (USDT) or bitcoin (BTC), twenty-four hours a day, seven days a week. Bittrex Global plans to increase its offering to include ETFs, indices, and other asset classes.

Bittrex Global’s chief executive officer Tom Albright, said: “Clearing systems are inefficient and complex and trading small volumes can be expensive and take days, all of which is totally unnecessary given the technological advances that have been made in the last decade.”

The first tokenised stocks available will include Tesla, SPDR S&P 500 ETF, Alibaba, Beyond Meat, Pfizer, Apple, BioNTech, Facebook, Google, Netflix, Amazon and Bilibili. These are available even in countries where accessing US stocks through traditional financial instruments is not possible.