Nasdaq will provide quotes for tokenized stocks

The U.S. exchange Nasdaq will supply price quotes for tokenized shares from DeFiChain

The U.S. stock exchange Nasdaq will start supplying price quotes for tokenized shares. It writes Bloomberg with reference to the exchange.

In addition to Nasdaq, price data for blockchain company DeFiChain will also be supplied by Finnhub and Tiingo. DeFiChain will reportedly offer tokenized shares matching the base price of listed companies such as Apple, Tesla, Amazon and GameStop.

Also, according to the company, the tokenized shares will be backed by cryptocurrencies. This means that traders will not need to use the services of a broker. Tokenized shares are expected to be traded on a decentralized basis using a native DFI token as well as bitcoin, Stablecoin and other cryptocurrencies.

“This will open doors for many people frustrated by traditional markets,” said Julian Hosp, co-founder of DeFiChain.

Bloomberg notes, however, that trading such shares does not involve ownership of the underlying asset. Instead, tokenized shares will reflect the price of that asset.

Tokenized shares gained their popularity after listing on cryptocurrency exchanges like FTX and Binance. The latter, however, removed support for such financial instruments after international regulatory pressure.

It is also noteworthy that the delisting from Binance took place a couple of days before the warning of the U.S. Securities and Exchange Commission (SEC). Recall that at the time, the head of the exchange regulator said that when selling tokenized shares to U.S. investors, there is a risk of encountering regulators.