As Business Insider reported:

 

The digital stocks, which will be initially offered on 10 of the most popular Nasdaq-listed companies and can be purchased with fiat or certain digital currencies, will be tokenized shares that sit on the Ethereum blockchain, backed by traditional shares. In addition to Tesla, DX.Exchange will tokenize shares of Alphabet, Apple, Amazon, Facebook, Microsoft, Netflix, Baidu, Intel Corporation and Nvidia.

While the exchange will be live on January 7, the company has not yet received approval for its digital stock offering. The company is reportedly still waiting for the Cyprus Securities and Exchange Commission (CySEC) to approve the multilateral trading facility (MTF) license it needs to conduct its digital stock operation.

DX.Exchange CEO Daniel Skowronski said that the digital stocks approach was “more of a game-changer than launching just a traditional crypto exchange.” He added:

“By adding this type of product where we are getting now the worlds of crypto and finance to really collide, it takes it to a whole new level.”

The company expects to receive its CySEC license sometime in the next few months. When it does, its services will not be available to customers in the United States since that would require getting regulatory approval from the U.S. Securities and Exchange Commission.