NASDAQ, one of the leading US exchanges, has joined Finnhub, an API provider for the stocks, forex, and cryptocurrency markets.

Finnhub also relies to extract its financial data, price feed and APIs on DeFiChain, a decentralized finance platform built on the Bitcoin network.

The rise of cryptocurrency in traditional finance led to the emergence of tokenized stocks, which are units of cryptocurrencies that are secured and fixed to the base price of shares of listed companies such as Tesla, Apple, Google and others.

Shares tokenized as cryptocurrency have been in the crypto arena for some time now, despite the regulatory backlash.

The US Securities and Exchange Commission (SEC) recently revealed that it has opened an investigation into Uniswap, a decentralized cryptocurrency trading platform.

Read:Announcement of the digital currency trading platform CoinEx and in partnership with Banxa Buy and sell cryptocurrencies without fees

The platform immediately moved to remove several stock cryptocurrencies, after a prior warning was issued by the regulatory agency in late July.

Earlier in April 2021, Binance launched an offering of shares tokenized as cryptocurrencies on its trading platform, providing crypto investors with access to traditional stocks.

However, soon after this offer was withdrawn, as Binance faced multiple regulatory restrictions in different countries.

With a well-established name in the financial industry such as Nasdaq in association with DeFiChain, tokenized stocks are likely to get a boost from adoption.

DeFiChain’s tokenized stock offering provides users with the option to purchase split stock, bypassing the entire stock purchase requirement.

In conventional stocks, the shareholder’s shares are represented by a physical certificate.

Julian Hosp, founder of DeFiChain, commented:

With the advent of blockchain technology, these shares can now be represented via a smart contract that is registered and executed via the blockchain.

Which will open the door to many people frustrated with traditional markets.

As a community, we’re excited about it.

project works”DeFiChainAs the original decentralized finance layer built on the Bitcoin blockchain, the project provides the possibility of decentralized stock trading and other decentralized finance services.

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