Bitrue has recently announced the launch of its new xStocks platform, providing users with the ability to trade tokenized stocks on the blockchain. This allows for 24/7 access to iconic stocks like Apple, Tesla, and NVIDIA.
Advantages of Tokenized Stocks
The xStocks platform enables users to access tokenized versions of traditional equities, providing fractional ownership, faster settlement, and round-the-clock trading, even outside traditional market hours. The initial batch includes six assets: Apple, Tesla, NVIDIA, MicroStrategy, Circle, and an S&P 500 ETF.
How Price Discovery Works During Off-Hours
According to Adam O’Neill, Bitrue’s Chief Marketing Officer, price discovery for tokenized stocks during off-hours heavily relies on the supply and demand dynamics on the specific platform. There are increased risks for market makers, often resulting in wider spreads, especially in lower trading volumes during these hours.
Plans for Expanding Stock Offerings
Bitrue aims to expand its offerings of tokenized stocks based on user feedback and trading data. O’Neill stated that users can expect new stocks such as Meta, Alphabet, and Amazon in the future. The platform is also interested in incorporating various asset types, including ETFs and possibly gold.
The launch of the xStocks platform at Bitrue introduces new opportunities for traders looking to access and trade tokenized stocks 24/7. As the assortment expands and services improve, the platform aims to meet user needs.
