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Nasdaq to Provide Price Feed Services for DeFiChain Tokenized Asset Trading

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The main US exchange Nasdaq will now provide data services and price feeds to DeFiChain, Bloomberg reports. DeFiChain, built on the Bitcoin network, is a native decentralized financial blockchain dedicated to monetary applications and services.
Feeds can update real-time market data in a fraction of a second with extremely low latency, ensuring real-time data download. DeFiChain will offer tokenized stocks linked to the underlying prices of companies such as Apple, Amazon.com, Tesla Inc. In addition to Nasdaq, Finnhub and Tiingo also provide price feeds and data services to DeFiChain tokenized stocks. Finnhub is an annual percentage return provider for the stock, forex, and crypto markets, while Tiingo is a financial data platform that provides price feed services.
The value of tokenized stocks will be determined by the value of an underlying asset like the traditionally traded stocks with which it is guaranteed. In the case of DeFiChain, cryptocurrencies will be collateral that will be indexed to the underlying price of publicly traded companies like Apple, Amazon, etc. The process will eliminate the need for intermediaries or agents.
Tokenized stocks can be purchased as decentralized loans in a fraction of a second. Tokens are a small portion of stocks that can be purchased on DeFiChain, without purchasing whole stocks. DeFi’s shares will be represented on a smart contract registered and executed on the Bitcoin blockchain network unlike physical certificates in traditional stock trading.
The Nasdaq price feed mechanism will use both the native digital currency DeFiChains, the DFI coin, and other cryptocurrencies like Bitcoin and USD coin. The USD coin is a stable coin pegged to the dollar.
A token stock trade does not give ownership of the underlying asset. Instead, it is the representation of a stock in the form of tokens. DeFiChain tokens can be traded 24/7. DeFiChain co-founder Julian Hosp reportedly said in Cointelegraph that the collaboration would bring great relief to those who are fed up with the traditional stock market and looking for new ones. avenues for negotiation.
For the latest crypto news, investment tips, and real-time price updates, follow our Cryptocurrency Page.

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