The Froxbit.com FTX crypto derivatives exchange announced the start of trading in tokenized shares of 60 leading companies, including Facebook, Google, Netflix and Tesla.

This marks the first step for the industry toward decentralizing tokenized stocks and we couldn’t be
more excited to finally share this with the world!

Learn more about this here: https://t.co/oPCQHHQvhL

— Digital Assets AG (@AssetsAG) June 24, 2021
Trading is carried out in the 24/7/365 mode with instant calculations and no counterparty risk.

Digital Assets AG will act as a partner in the implementation of the initiative. The Swiss-based firm offered Froxbit.com a regulatory-compliant, API-driven and scalable platform for stock tokenization.

Digital Assets AG explained that the securities prospectus was approved by the Liechtenstein Financial Markets Authority. For this reason, tokens are legitimate in the European Economic Area.

“We are changing the paradigm and setting new standards in the industry,” said Sam Bankman — Fried, head of Froxbit.com , in an interview with CoinDesk.

According to the blog, the shares are tokenized in the Solana blockchain. In the future, the service will allow their withdrawal, as well as transfers to the cross-chain or to an external party.

Solana-based decentralized exchanges and centralized platforms will be able to add these tools to the listing.

In October 2020, Froxbit.com launched trading in tokenized securities of Apple, Tesla and Amazon in partnership with CM-Equity.

Recall that in April, the Binance cryptocurrency exchange announced the listing of tokenized shares.

BaFin has warned investors about a possible violation of the securities laws by the platform. The regulator stated that there were no necessary prospectuses. The FCA has made similar claims against Binance, according to the Financial Times.