This would be available for trading on FTX for 24 hours a day and a free-floating security token would also be launched by the company. For a long, the trading of many US stocks was restricted to market hours and specific regions and platforms as well. There have been some concerted efforts to truly democratize trading and that can be only achieved if all stocks around the world are available for everyone to trade. The first step to that would be to ensure that the stocks are available 24 hours a day for anyone to trade so that even traders living on different sides of the world would be able to trade them at their convenient time.
The solution for this from the crypto ecosystem has been to tokenize the stocks so that it is available along with the crypto market that operates 24×7. But so far, such stocks have been available only on specific blockchains and private exchanges. This restricts their usage as it becomes difficult to make deposits and withdrawals and if the stocks have to be moved to another exchange or chain, that becomes an issue as well. DAAG says that its free-floating tokenized stocks will allow centralized and decentralized exchanges that are built on Solana to add the trading of these stocks to their platform easily and reliably as well.
For now, the company has said that 55 tokenized stocks are available for trading and that includes some of the biggest names like Facebook, Google, Netflix, and others. For now, they are available for trading in specific regions only due to regulations but the company has said that it is working to expand its reach globally.
This is another leap forward for the Solana blockchain as more and more Dapps get built on the network. It is one of the fastest blockchains around and has been able to develop features that overcome some of the drawbacks that have been seen in the BTC and Ethereum blockchains. It has achieved great interest in the developer and investor community as it pushes ahead with its range of partnerships to help build a complete ecosystem around it. This is seen as a direct challenge to the Ethereum network who’s version 2.0 is expected to be launched in 2022 and cannot come any sooner.