VALR, one of the leading crypto exchanges in Africa, announced the launch of xStocks, providing users in South Africa with the ability to invest in tokenized stocks of major U.S. companies.
Introduction to xStocks
VALR, a notable South African crypto exchange, has launched xStocks to provide its customers with the opportunity to invest in tokenized stocks of companies listed on U.S. stock markets. This initiative aims to simplify the investment process and enhance financial accessibility for users in the region.
Access to Tokenized Stocks
Customers will be able to trade tokenized stocks of companies like Coinbase, Robinhood, Tesla, Circle, and Nvidia without having ownership, voting, or any shareholder rights. xStocks are available for trading on the VALR Spot market against USDT, Bitcoin, Ether, and other digital assets. Users can also conduct transactions in South African Rand.
Support from VALR and Backed
According to David Henderson, Head of Growth at Backed, xStocks have already seen 'incredible adoption' in the market. VALR reports that it currently serves over 1,400 institutional clients and more than 1.5 million users worldwide. Recently, VALR launched the USDPC token as part of its VALR Invest program, which exemplifies its commitment to creating financial products for portfolio diversification.
VALR's initiative to launch xStocks opens new horizons for investment opportunities in South Africa. This step signifies the integration of traditional financial instruments with blockchain technology.
