Sunday, August 14

WallStreetBets dApp will offer exposure to tokenized stocks

The founder of WallStreetBets took the stage at the Money 20/20 event that is taking place in Las Vegas at the time of writing, and there he shared information about an important project that they have been working on for a few months.

Exactly it points out that they are working on the WallStreetBets dApp so that it can expose DeFi products using the Bitcoin side blockchain; better known as Liquid Network and created by Blockstream. He also added that the main objective is to allow users to have exposure to the tokenized shares of different companies.

It should be noted that the dApp has its own governance system, and with the association of highly relevant securities companies; where Digital Markets (DIGTL) and MERJ Exchange (MERJ) stand out.

Important details of the new WallStreetBets project

Previously, WallStreetBets had launched an application based on the Binance blockchain; It is the WSBDApp that was launched in May 2021 and allows users to have exposure to various financial instruments with the native WSB token. However, according to information published in a Press release, are working to offer a new list of products in the same dApp.

This brought a lot of positive comments, most notably those of the Bitcoin sidechain’s CSO, Blockstream, who added:

WallStreetBets has captured the imaginations of millions in their stand against some of the most predatory hedge fund practices. The movement’s goal of creating fair and open markets fits perfectly with the open blockchain deal.

Samson Mow, CSO de Blockstream.

It should be noted that this is a very useful project for the average or retail investor, because thanks to WallStreetBets they will be able to have exposure to multiple assets, which, for different reasons, may be limited to certain users. It is a solution that, as we mentioned before, will come from the hand of DIGTL and MERJ.

It is worth noting that both companies have a high relevance in the stock market and securities sector; where the first one stands out for allowing asset issuers to connect with investors globally, and the second is simply a stock market. In addition to this, the CEO of MERJ, Ed Tuohy, also added his comments in this regard, where he states:

Our mission has always been to provide fair and democratic access to markets through the use of technology. To this end, we look forward to working with WallStreetBets to drive the adoption of digital securities and cryptocurrencies in our regulated securities market infrastructure.

Ed Tuohy, CEO of MERJ.