Switzerland-based Digital Assets AG is launching Tokenized Shares Service on Solana

The Switzerland-based token issuer Digital Assets AG (DAAG) has officially launched its security tokenization infrastructure on the Solana blockchain and is making the FTX trading platform available to users.

In the first rollout, FTX users who have completed the Know Your Customer document will have access to 55 freely movable shares that are available 24 hours a day, 365 days a year, announced Digital Assets AG on Thursday. That means users in authorized jurisdictions can buy, sell, and withdraw assets at any time.

Free floating stocks are assets that have received government approval to trade on crypto platforms. As the DAAG explains, they represent the number of shares in a given asset excluding restricted shares, such as shares held by company executives.

According to the DAAG, the tokenized share offers are valued within the European Economic Area or EEA by means of a prospectus approved by the Liechtenstein Financial Market Authority.

DAAG CEO Brandon Williams explained why his company started on Solana:

“Moving from operating on a private blockchain to operating on Solana will provide a more efficient and cost-effective environment for trading and using tokenized stocks. […] We envision that all of the traditional financial and capital markets can operate on blockchain, and Solana is the obvious choice. “

In the meantime, FTX already offers trading in crypto stocks. As Cointelegraph reported, FTX launched Coinbase contracts ahead of the company’s initial public offering in April.

Sam Bankman-Fried, Founder and CEO of FTX, said: “DAAG’s tokenized securities infrastructure will help facilitate a paradigm shift in the underlying market structure …”

Connected: Launch of Metaplex NFT on Solana

Solana has received tremendous support from investors, venture capitalists and other market participants. The crypto startup recently raised $ 314 million from several prominent investors to accelerate the development of its high-performance blockchain. Andreessen Horowitz and Polychain Capital led the profits, with additional contributions from Alameda Research, Blockchange Ventures, CMS Holdings and CoinShares, among others.