The Crypto Exchange Gemini has launched a tokenized version of Michael Saylor’s Strategy (MSTR) stock for users in the European Union, which allows them to invest in Bitcoin-buying Firm OnChain.
“Traditional financial metals are difficult to access and require modernization,” Gemini Says In a statement on Friday.
More tokenized stock and ETF will come to the platform as soon as possible
“Tokenized stocks can solve this problem by providing investors more accessing with fewer restrictions,” he added.
Traditional stock markets have many restrictions, including limited trading hours tied to market times, higher fees for international investors, and limited access to investors in certain regions.
Gemini said, “Onchain Stock Trading can solve these problems by offering an inexperienced experience somewhere.”
Gemini said investors can hold crypto and stock onchain without selling on one platform to use another for trade stocks.
Gemini said he partnered with US Public Securities provider Dinari to provide services. “By seizing the Dinari’s tokenization-on-demand model, we can offer customers more liquidity, transparency, and the same economic rights as supporting security, which is allowed,” he said.
While MSTR is the only tokenized stock currently available, the exchange noted that additional tokenized stocks and ETFs are expected to launch “in the coming days.”
Strategy (MSTR) stock reached 3.84% in the past 30 days, trading at $ 383.88, According to In Google Finance data.
On Wednesday, the financial analyst Jeff Walton said the strategy had high chance to qualify for the S&P 500 as long as Bitcoin (Btc) not dropped below $ 95,240 before the end of the second quarter.
The interest that grows for tokenized equally in Europe
It is amid growing interest from other crypto platforms in bringing US-tokenized equities to the European market. Tokenized equities are not available to be exchanged in the US.
On May 8, reports emerged that Brokerage FinTech Robinhood has been reportedly developing a blockchain network that activates European retail investors to exchange US security.
Related: Coinbase seeks to approve the SEC for ‘Tokenized Equities’ – Report
A few weeks later, on May 23, the Crypto Exchange Kraken said it plans to offer customers who are not US the option of trading US stocks, as part of the company’s push to offer more traditional properties through tokenization.
Meanwhile, Crypto Exchange Coinbase is trying to get the green light in the US. On Tuesday, chief legal coinbase officer Paul Grewal, reported that the company said Searching for the Securities and Exchange Commission (SEC) approved to offer tokenized equal.
Crypto executives hope that tokenized equities will grow. Arnab Ninkar, CEO of Stokr, recently said this is difficult to project but “Certainly a larger trillion-dollar market.”
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