Nasdaq, Finnhub and Tiingo will reportedly be collaboratively offering their price feeds to DeFiChain – a DeFi platform designed upon the Bitcoin network. 

Specifically, regardless of the rough past months for tokenized stocks, regulations-wise, legacy financial heavyweights as well as DeFi enthusiasts still continue entering different agreements. 

DeFiChain reportedly supports tokenized stocks-centric trading, in correspondence with the underlying price of big names that have completed their listings, nominally Tesla, Amazon and Apple. 

The tokenized stocks – bearing resemblances to a now-retracted offering introduced by Binance in the first half of 2021 – are reportedly open for purchasing in fractions without the need to complete a full buy of a traditional share, for which custody of a physical share certificate is mandatory.

Crypto will reportedly be used as collateralization for the tokenized stocks, which will help eliminate the involvement of an intermediary, and can also be acquired in the form of decentralized loans.

The decentralized stock trading network provided by DeFiChain reportedly utilizes its native token, DFI, together with Bitcoin (BTC) and United States dollar-pegged stablecoin USD Coin (USDC).

The platform’s co-founder, Julian Hosp, reportedly shared that the “offering will open the door to many people who are frustrated by traditional markets.”

Nonetheless, enthusiasts such as Hosp will reportedly have to adapt with the inclining scrutiny regulators are placing upon the DeFi sphere. 

In September this year, the U.S SEC reportedly disclosed its plan to look into the startup operating the top-tier decentralized cryptocurrency exchange, Uniswap.