WhiteRock Launches DeFi Platform to Tokenize NYSE, Nasdaq, and LSE Stocks and Bonds
Date: 2024-12-25 Author: Henry Casey Categories: BUSINESS
WhiteRock Finance officially launched a platform on December 24 to tokenize traditional financial assets, including securities listed on the NYSE, Nasdaq, and LSE. The project aims to integrate traditional markets with blockchain technology, opening up new opportunities for participants.
The company said the project will provide access to the liquidity of traditional exchanges using decentralized mechanisms. In a post on the X platform, WhiteRock called the tokenization of assets a real financial revolution, highlighting the scale of changes that could follow.
Blockchain is seen as a tool for leveling the playing field in the financial market. The WhiteRock platform provides decentralized trading of shares of more than 500 companies listed on the NYSE, Nasdaq and LSE. Already at the launch stage, the platform has reached a weekly trading volume of over $100 million.
WhiteRock strictly monitors compliance with international regulatory standards. The release of the platform's functionality is divided into five stages, the first of which has already been successfully implemented.
At the current stage, users can trade tokenized bonds and shares. The company also introduced its own tokens: $WHITE and stable cryptocurrency USDX. USDX holders can optimize the profitability of their dollar assets.
The platform will soon feature lending secured by tokenized securities. These assets will be supported by robust institutional-grade risk management mechanisms.
In addition, protocols working with real assets (RWA) will be able to use WhiteRock tokens to obtain liquidity.
As part of its further development, WhiteRock plans to integrate USDX with leading decentralized exchanges, develop cross-chain operations functionality and strategies for optimizing profitability.
The company is actively developing WhiteX, a decentralized exchange based on an order book, which will operate on its own blockchain platform WhiteNetwork. This system is being created to form markets free of regulatory restrictions, with the ability to trade various financial instruments.
In the final stage, WhiteRock will expand the scope of tokenization, covering assets such as intellectual property, real estate and commodities. This will allow any valuable assets to be digitized and traded.
The WhiteRock platform is not yet available to users in the United States, but is fully compliant with regulatory requirements in other jurisdictions. Potential clients are advised to first verify the availability of the platform in their country.
