Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at Gemini rolling out tokenized stocks in the EU, included Saylor's Strategy stock.
Gemini Tokenizes Strategy Stock
The cryptocurrency exchange Gemini announced last Friday that they will be listing a tokenized version of Michael Saylor’s Strategy (MSTR) stock for European Union investors. This comes as they look to provide tokenized stocks as a solution to the limitations of traditional equity markets. This will give exchange users a new way to gain exposure in Bitcoin without directly investing in the cryptocurrency. Gemini announced in their statement:
“Traditional financial rails are hard to access and in need of modernization. Tokenized stocks solve this problem by giving investors greater access with fewer restrictions.”
The platform offers its benefit of 24/7 trading and reduced fees for international investors as part of the draw for users to invest in the tokenized stocks. Gemini also noted their onchain trading system allows users to both hold crypto and equities seamlessly without the need to change onto different platforms. Gemini are also working with the United States securities provider Dinari to power the tokenization model.
Investors will have the same economic rights as the underlying shares where permitted, along with greater liquidity and transparency. MSTR is only the first stock which Gemini are making available in tokenized form with more planned to follow along with tokenized ETF's.
Strategy are known for amassing over 200,000 Bitcoin on their balance sheet and the share value has climbed 3.84% in the last month. Its current price is $383.88. This move by Gemini came about as other cryptocurrency exchanges are also aiming to bring tokenized US stocks to European investors. Robinhood is working on creating a blockchain network which will allow European retail trading of US equities. Kraken have also announced plans to offer tokenized United States stocks to non-US customers.
Have a great day.
Peace. CryptoGod-1.
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