Launching Today: New Nasdaq Powered DX.Exchange

It has been an excruciatingly long wait, but it is finally going to be over today. The new Nasdaq powered DX.Exchange goes live today, 7th January.

The news of its launch has been doing the rounds since May last year, when news of it broke during the Consensus event in New York. The market has been waiting eagerly for the first such kind of exchange, that would allow cryptocurrency users to invest in actual stocks and not just contracts for difference (CFDs).

The exchange will allow trading options for the top six coins of Bitcoin (BTC), Ethereum (ETH), XRP , Bitcoin Cash (BCH), EOS (EOS) and Litecoin (LTC). It will pair the six major cryptocurrencies with the United States Dollar (USD), the Euro (EURO) and Japanese Yen (JPY).

Not just that, it will also allow the cryptocurrency holders to invest and trade in shares belonging to companies such as Apple, Intel Facebook, Amazon, Tesla, Microsoft, Netflix, and Nvidia amongst others.

DX.Exchange is regulated by the European Union, and is the first such complete crypto community which allows institutions and individuals to purchase cryptocurrencies with fiat and trade in cryptocurrencies. To know more about their new tokenization method using blockchain, read: European Digital Exchange to Incorporate Blockchain into Stocks

The new process of trading in place at the exchange is almost similar to the traditional way of buying stocks. Under that, each unit of the digital security token will be backed by regular shares of the company, on a one to one ration. The only diversion here is that the stocks will be represented by tokens on the Ethereum blockchain.

Another great news about the platform is that there will be no transaction fee levied on each transaction. Instead, there will be a monthly membership fee that the exchange will charge. The current price is $20 per month, which will allow traders to trade a monthly trade volume worth $50,000.

The exchange  holds operating licenses with the Estonian Financial Intelligence Unit. Here is a tweet from their official handle announcing the launch.