Popular cryptocurrency exchange, FTX will allow cryptocurrency traders to soon trade tokenized version of top stocks like Tesla, Apple, Facebook, Netflix and so on, on its exchange.
These stocks are tokenized versions of actual stocks and their value is always pegged to actual value of real stocks. So, price of 1 Tesla share = 1 Tesla token being traded on FTX crypto exchange.
While Institution interest in Bitcoin has tripled since January 2018, a lot of users wanted to trade Wall Street stocks on their crypto exchanges. This feature is already offered by DSTOQ, a project backed by Stellar Development Foundation but so far, DSTOQ has failed to gain any traction due to several restriction, lack of advertisement and most importantly, user base.
— SBF (@SBF_Alameda) October 29, 2020
FTX is an immensely popular cryptocurrency exchange with strong user base which is why FTX will be more popular than something like DSTOQ.
This has been made possible with FTX partnering with CM Equity AG, a German based company and Digital Assets AG, a Swiss company.