Bittrex Global To Allow Users Purchase Stocks With Bitcoin [BTC]

Bhushan Akolkar Blockchain News Publish On December 7, 2020 | Modified On December 7, 2020

Bittrex Global To Allow Users Purchase Stocks With Bitcoin [BTC]

America’s leading cryptocurrency exchange Bittrex Global has just announced the launch of tokenized stock trading on its crypto trading platform in partnership with DigitalAssets.AG. Thus, all crypto traders and investors on Bittrex will get direct access to public listed companies without having to [ay any additional fees or external brokerage.

This announcement gives Bittrex users the flexibility to switch between stocks and crypto whenever they find a good market opportunity. Interestingly, users can purchase the shares all seven days of the week against the U.S. Dollar, Bitcoin (BTC), or Tether (USDT).

Tokenized stock trading is not a new thing in the market. However, it helps to bridge the gap between the traditional stock markets and the emerging crypto markets. Also, with this facility, Bittrex Global users can purchase a fraction of the stock without the need of buying complete shares. Here, the tokenized company takes the complete underlying risk associated with the tokens.

In a short period of time, Bittrex Global will expand its services thereby giving its users exposure to other asset classes like Indices, exchange-traded-funds (ETFs), etc. Bittrex Global’s CEO Tom Albright said:

“The traditional stock exchanges of the world’s financial capitals have for centuries set the terms for engagement and trading. Clearing systems are inefficient and complex and trading small volumes can be expensive and take days, all of which is totally unnecessary given the technological advances that have been made in the last decade.

Blockchain technology has the potential to radically broaden access to financial services, and Bittrex Global is very proud to provide people with a portal to build their capital and private wealth in a way that was unimaginable a decade ago.”

Bittrex Global to Support Stocks of Top Public Listed Companies

Bittrex said that its globally used crypto trading platform will allow its customers to purchase stocks of some of the trillion-dollar companies listed in the U.S. This includes big names like Alphabet (GOOGL), Tesla (TSLA), Alibaba (BABA), Pfizer (PFE), Facebook (FB), Netflix (NFLX), Amazon (AMZN), and others.

All these tokenized stocks shall be available for purchase in countries where U.S. stocks are easily accessible through traditional financial instruments. This is a big push for the use of blockchain technology in traditional financial services.

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Bhushan Akolkar 196 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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