Crypto exchange Gemini is expanding into tokenized stocks, offering its EU clientele early access.
The company settled on tokenized shares of Strategy for its initial rollout. That means Gemini users in the EU can now purchase MSTR on the platform and move it freely on the chain.
It insisted that all one needs now to access the tokenized shares is a smartphone and an internet connection. Nonetheless, the company plans to tap into more stocks and ETFs in the near future.
Gemini aims to export US equities all over the world
So far, tokenized MSTR on Gemini is tradable on Arbitrum, the Ethereum Layer 2, though the platform claimed it would expand to more networks.
The company is also working with blockchain-based startup Dinari, aiming to offer enhanced liquidity, transparency, and—where allowed—economic rights equivalent to those of the underlying asset.
Their collaboration will also allow Gemini users to buy fractional shares of Strategy as on-chain tokens backed by real securities.
Its Friday announcement read, “Combining the best assets in the world with the 24/7/365 form factor of crypto is how we reimagine and rebuild the financial system. […]”
The firm’s goal is to export US equities globally and connect the world’s greatest companies to the people.
The company is not the only one pursuing tokenized shares, with major crypto exchanges Coinbase and Kraken looking for the Securities and Exchange Commission’s approval to venture into the space. Nevertheless, the exchanges’ likelihood of receiving broker-dealer licenses is high at the moment, especially in light of Dinari’s recent approval. However, the platform can only offer the equities to non-US users.
Dinari’s tokenized equities, dShares, are now available on decentralized finance platforms, including Coinbase’s Base blockchain network. Gabriel Otte, the co-founder and CEO of Dinari, asserted that their goal was to elevate the entire financial system, wanting to establish an on-chain exchange.
Plume Network and Backed also pursue the RWA tokenized space to provide users with popular US stocks like Tesla and Apple.
Gemini rolled out Solana staking services
Gemini recently launched Solana staking services for ETFs, corporations, and high-net-worth individuals. The exchange stated that users can now earn staking rewards on the Solana network while enjoying the advantages of their cold storage wallets. Moreover, users can choose their preferred validator or rely on Gemini’s in-house validator.
The company also partnered with Purpose Investments, offering its Solana ETF (SOLL). SOLL represents Purpose Investments’ second staking ETF, which is supported by Gemini’s custody and staking infrastructure.
Vlad Tasevski, Chief Investment Officer at Purpose Investments, even argued that the company’s partnership with Gemini will strengthen its Canadian market and build trust with investors.
Solana treasury company DeFi Development Corp. is also working with Gemini while it increases its SOL holdings and stakes them over time.
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