European crypto exchange CoinField is getting closer to the launch date of its ambitious Sologenic project. This week it announced all of the stock exchanges that will be “compatible” for tokenized assets trading on the XRP Ledger. Once live, the Sologenic ecosystem will allow trading of 40,000 stocks, ETFs and commodities. These traditional assets will be turned into stablecoins and backed by real-word assets, per Sologenic.
Here is the complete and very impressive list of traditional stock exchanges that Sologenic is adding to its platform:
New York Stock Exchange & NYSE MKT
Toronto Stock Exchange
TSX Venture Exchange
BME Spanish Exchanges
Deutsche Borse (XETRA)
Irish Stock Exchange
Johannesburg Stock Exchange
London Stock Exchange & IOB
Milan Stock Exchange
NASDAQ OMX Copenhagen, Helsinki and Stockholm
NYSE Euronext Amsterdam AEX, Brussels, Lisbon and Paris
Oslo Stock Exchange
Prague Stock Exchange
SIX Swiss Exchange
Wiener Borse / Vienna Stock Exchange
Warsaw Stock Exchange
Australian Securities Exchange
Hong Kong Exchanges
HK Stock Connect
Tokyo Stock Exchange
Commenting on the announcement, CoinField’s CEO and Sologenic’s Co-creator Bob Ras said: “What makes Sologenic a game changer is “On-demand Tokenization,” where traders have access to a wide range of securities offered by the top global stock exchanges. Traders can tokenize any assets in real-time and then trade them against cryptocurrencies or other tokenized assets. I believe it’s time for the traditional financial markets to be disrupted and take advantage of existing blockchain technology.”
Sologenic also provided details on how the ecosystem works – it turns real-world assets into digital tokens and puts them on the XRP Ledger for trading. Generated stablecoins will represent the ownership of the asset, with the suffix “ƨ” added to it. A tokenized Tesla stock (TSLA) will become TSLAƨ, for instance. Users will be able to store and keep custody of their tokenized assets in private online or offline wallets and no third party is required to keep the private keys, per Sologenic.
Trading will take place on a centralized exchange, as well as on a DEX, which is expected to launch in Q2 2020. Sologenic has also announced SOLO cards to spend cryptos instantly anywhere in the world.
The post Sologenic Lists 30 Securities Exchanges For Stocks Tokenization appeared first on Global Coin Report.
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