Phantom Wallet has introduced a new feature that allows users to trade tokenized stocks 24/7 while maintaining full ownership of their assets.
How Tokenized Stocks Work
Tokenized stocks are digital tokens that are pegged to real shares. Each token represents ownership of a share or a fraction of a share, enabling users to trade them anytime without relying on traditional stock exchanges. This is especially convenient for international investors who encounter time restrictions or brokerage limitations.
New Opportunities with xStocksFi
With the integration of xStocksFi, users can access tokenized stocks without the need to create a separate account on a conventional trading platform. The process involves connecting the Phantom wallet, selecting the stock, and executing transactions directly on Solana’s high-speed network. This helps eliminate long settlement periods and high fees typical of traditional brokers.
Examples and the Future of Tokenized Assets
A real-world example of this trend is FTX's earlier tokenized stock offering, which allowed crypto users to gain direct access to global equities from the exchange. Despite regulatory challenges, the concept demonstrated a strong demand for on-chain access to traditional assets. Phantom's approach builds on this idea, providing users with full control over their private keys and holdings.
The integration of xStocksFi into Phantom Wallet opens new horizons for users wishing to trade tokenized stocks, providing a convenient and secure path to traditional financial instruments.
