Nasdaq to provide price feeds for tokenized stock trades on DeFiChain

Nasdaq to provide price feeds for tokenized stock trades on DeFiChain

Tokenized stocks have had a shaky few months from a regulatory perspective, but that seemingly hasn’t stopped legacy financial giants and decentralized finance (DeFi) advocates from inking new deals. 

Bloomberg reported today that Nasdaq, Finnhub and Tiingo, will be providing their price feeds to DeFiChain, a DeFi platform built on the Bitcoin (BTC) network.

DeFiChain offers trading in tokenized stocks that correspond to the underlying price of major listed firms like Tesla, Amazon and Apple. The tokenized stocks, similar to a now-retracted offering rolled out by Binance earlier this year, can be purchased in fractions without requiring investors to purchase a full, traditional share, for which custody of a physical share certificate is required. 

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The tokenized stocks are collateralized by cryptocurrencies, removing the need for an intermediary, and can also be purchased in the form of decentralized loans. Available to trade 24/7, the purchase of a tokenized stock does not confer ownership of the underlying asset to its holder but rather allows them to

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