eToro tokenizes US stocks, enables 24/7 trading
eToro Group plans to launch tokenized shares of American companies, allowing investors to trade them 24 hours a day, five days a week, Bloomberg reports.
Tokenization involves the creation of tokens, which are digital representations of a company's shares and are stored on a blockchain. eToro Group wants to provide investors with the ability to trade tokens on the Ethereum blockchain. The owner of the trading and investment platform has not announced when the offering will launch. However, it has indicated that it will likely launch in Europe. eToro Group initially intends to offer 100 American companies and ETFs.
"This is truly the dawn of the era of digital assets and tokenized real-world assets," noted Yoni Assia, co-founder and CEO of eToro. "We're excited to see a convergence between the eToro cryptocurrency wallet and our clients who send and receive crypto assets, and the world of stock trading on eToro."
Bloomberg notes that Robinhood Markets announced similar plans to eToro Group, offering tokenized American stocks to European clients. This was met with skepticism from regulators, the agency notes.
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