Crypto Exchange Gemini has launched a tagged version of Michael Saylor’s Strategy (MSTR) stock for EU users, allowing them to invest in Onchain, a company that buys Bitcoin.
“Traditional financial tracks are difficult to obtain and require modernization,” Gemini explain In a statement Friday.
More tagged stocks and ETFs are about to arrive on the platform
It added: “Tokenized stocks solve this problem by giving investors fewer restrictions.”
Traditional stock markets have several restrictions, including limited trading hours associated with market time zones, higher fees for international investors, and limited access for investors in certain regions.
“Onchain stock trading solves these problems by providing a frictionless experience in one place,” Gemini said.
Gemini said investors can hold cryptocurrency and stock OnChain without having to sell on one platform to use the other to trade stocks.
Gemini said it has already provided services in partnership with US public securities provider Dinari. “By leveraging Dinari’s on-demand model, we can provide customers with greater liquidity, transparency and the same economic rights as backing security,” it said.
Although MSTR is Gemini’s only token stock available at the moment, the exchange said it expects to launch more tagged stocks and ETFs in the “next days.”
Strategy (MSTR) stock has risen 3.84% over the past 30 days and traded at $383.88, according to Conduct Google-funded data.
On Wednesday, financial analyst Jeff Walton said the strategy had a high chance of getting the S&P 500 as long as Bitcoin was available.BTC) Not less than $95,240 Before the end of the second quarter.
European token stock growth interest
This is due to the growing interest of other cryptocurrency platforms in bringing U.S. weathered stocks to European markets. Currently, symbolic stocks are not available in the United States.
On May 8, it was reported that broker FinTech’s Robinhood is developing a blockchain network that enables European retail investors to trade U.S. securities.
Related: Coinbase seeks SEC approval for “Token Stocks” – Report
Just a few weeks later, on May 23, the cryptocurrency exchange said it plans to offer non-U.S. customers the option to trade tokenized U.S. stocks as part of the company’s push to provide more traditional assets through tokenization.
Meanwhile, crypto exchange Coinbase is trying to get the green light in the United States. On Tuesday, Coinbase’s chief legal officer Paul Grewal, It is reported that the company is Seek Securities and Exchange Commission (SEC) approval to provide token stocks.
Crypto executives hope symbolic stocks will grow significantly. Stokr CEO Arnab Naskar said recently It’s hard to project, but “It’s definitely a bigger trillion dollar market.”
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