Ethereum: Positive news galore - Blockchain to be used for tokenised U.S. based securities in Estonia

Ethereum, the crypto that retook its crown of second largest cryptocurrency tag from Ripple's XRP, is cheered as the news surrounding the crypto and the blockchain platform is all positive and helping the prices firming up.

ETH/USD is more than 4 percent up on day at $162.70 and trading in more than 4 percent range for the day. ETH price has almost doubled form the lows of last month when it hit as low as $82 and all the positive developments surrounding the crypto couldn't have come at a better time for the bulls. Firstly, as reported earlier, Ethereum is heading into the constantinople hard fork, which is scheduled on January 16th and is expected to largely optimize speed and cost. (Read here)

While that was good morale booster for the bulls, another news surrounding the Ethereum blochain technology gave further fillip to the prices. Estonia based DX.Exchange, which is launching next week, is coming up with tokenised securities of the U.S. based stocks, listed on Nasdaq, such as Apple, Facebook, Tesla etc. In all, the exchange plans to offer 10 such securities for trading 24/7. The exchange plans to expand its offerings to New York Stock Exchange as well as Tokyo and Hong Kong.

Each digital security is backed by one regular share and holders will be entitled to the same cash dividends, even though the companies themselves aren’t involved.

Even though U.S. regulators oversee trading of DX’s initial roster of stocks, Chief Executive Officer Daniel Skowronski said he doesn’t need permission from the Americans to offer this service because DX doesn’t operate there. The company says it’s licensed by the Estonian Financial Intelligence Unit with full authorization to operate in the European Union.