Bittrex Global launches! Bittrex Global launches as a subsidiary under one of the biggest and oldest crypto exchanges.
“Tokenized stocks are tokenized derivatives that represent traditional securities, particularly shares in publicly firms traded on regulated exchanges such as Tesla, Apple and Facebook,” they say, further adding:
“Tokenized stocks are a tokenization of a digital total return swap contract (“TRS”) (similar to contracts for differences).
Tokenized stock value is based on and collateralized with a digital asset representation of the asset.
As an example, they are collateralized by an equivalent amount of the traditional security. $100 dollars of the debt derivative would be collateralized with $100 dollars of the traditional security. This allows TRS’s to mirror the economic performance of the referenced traditional securities.
Tokenized Equities may also represent innovative indexes of traditional securities as well as traditional securities + cryptocurrencies. Tokenized equities could, theoretically, include leverage as well as long or short exposures.
Bittrex Global has tapped CM-Equity as the custodian for their assets, which they claim will be fully regulated in Germany. They’ve also licensed themselves under Bermuda.
Europeans will not be able to buy stocks on the subsidiary exchange. However, they did say that Europeans may withdraw tokens in the future and they may allow participation in the future.
Some stocks offered in fractional ownership include Alibaba, Pfizer, BioNTech, Google, and many more.
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