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You Can Now Trade FAANG Stocks on the Solana Blockchain

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“Transferable stock tokens will bridge the traditional finance and decentralized finance.”

– Corporate development lead at Digital Assets AG Brandon Williams.

A Swiss-based company, Digital Assets AG, has launched tokenized stocks on Solana (SOL).

Stock tokenization lets you buy company shares in the form of cryptocurrency coins or tokens. Thus, each tokenized stock represents the value of its underlying asset, be it MicroStrategy or Coinbase shares.

FAANG Stocks on Solana

Apple stock (AAPL), Amazon stock (AMZN), Netflix stock (NFLX), Facebook stock (FB), and Google stock (GOOG) — colloquially called FAANG stocks are now tradeable on the Solana blockchain.

Popular stocks immediately available for trading across platforms built on the SOL blockchain include Facebook, Amazon, Apple, Netflix, Google – but over 50 tokenized stocks will become tradeable across the exponentially growing Solana ecosystem.

Other stocks to be immediately available for trade in their tokenized equivalent include household names such as Nvidia, PayPal, Square, and Tesla.

A Big Step in the Right Direction for Decentralized Finance

Tokenized stocks were tradable on traditionally more centralized entities like a cryptocurrency exchange.

In some cases, a private blockchain was preferable. Although users could only open or close positions, they could not withdraw tokenized stocks, send them to an external party, or transfer across chains which was a severely crippling drawback regardless of whether using a public or private blockchain.

Public vs. private blockchains. The difference between public and private blockchains applies to privacy, and users who look to remain purely anonymous would opt for the latter.

However, these innovative tokenized versions of traditional stock market shares will allow centralized exchanges alongside their decentralized counterparts to add stock trading to their platforms.

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