The decentralized exchange Injective Protocol has integrated trading for the big-Tech companies Facebook, Amazon, Netflix and Google. The Update is the result of a partnership with Terra and Band Protocol.
Injective Protocol introduces stock trading
Facebook, Amazon, Netflix and Google will be the first shares to be listed on the decentralized exchange. DeFi takes the first step into the traditional financial market. Injective exchange, the high-Speed Layer 2 derivatives exchange, on Thursday integrated traditional stocks in the form of synthesized Assets. The platform is based on the Cosmos SDK.
First, they will enable trading for Facebook, Amazon, Netflix, and Google. Further shares are to be added later. This collection of shares is a bright aspect for crypto traders and these shares have brought investors some of the biggest returns in recent times.
The team is working with Terra and Band Protocol for this step, with Terra offering stock tokenization and Band providing feeding in price data through their Oracle technology.
Injective Protocol’s CEO, Eric Chen announced the news
Investing in equities remains inaccessible to billions of people worldwide, while existing platforms act as gatekeepers and suffer from technical challenges. Injective helps to seamlessly fix these salient issues to allow everyone to trade shares without fees.
The Update is the first product offering of its kind on a decentralized exchange.
DeFi with leap into the traditional financial market
While FTX, the leading crypto exchange, has focused on driving the industry forward, listing Airbnb on Nasdaq this month, shares have never been available within DeFi. Injective is listing the shares on its Injective Solstice V2 network, and they will be available to buy with USDT.
Injective currently offers shares with Zero Gas fees. As a rule, brokers or other middlemen charge relatively high fees when trading shares.
This development indicates that DeFi is far from finished and continues to make progress by taking on more functions from traditional financial markets.