DeFi gets synthesized shares – Amazon, Facebook, Google and Co. available decentrally

DeFi gets synthesized shares – Amazon, Facebook, Google and Co. available decentrally
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The exchange, supported by Binance, has integrated decentralized stock 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 stocks to be listed on the decentralized exchange. DeFi takes the first step into the traditional financial market.

Synthesized stocks on the rise

Injective, the high-speed Layer 2 derivatives exchange, integrated traditional stocks in the form of synthesized assets on Thursday. The platform is based on the Cosmos SDK.

Initially, they will enable trading for Facebook, Amazon, Netflix, and Google. More shares are to be added later. This collection of stocks is colloquially known as FANG and has 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 the tokenization of stocks and Band feeding in the price data via their oracle technology.

Injective Protocol’s CEO Eric Chen announced the news:

Investing in stocks still remains inaccessible to billions of people worldwide, while the existing platforms act as gatekeepers and suffer from technical challenges. Injective helps address these salient issues seamlessly to allow anyone to trade stocks with no fees.

The update is the first product offering of its kind on a decentralized exchange.

DeFi with a jump into the traditional financial market

While leading exchange FTX has been focused on moving the industry forward, listing Airbnb ahead of Nasdaq this month, stocks have never been available within DeFi. Injective is listing the stocks on its Injective Solstice V2 network and you will be available to buy in USDT.

Injective currently offers stocks with zero gas fees. As a rule, brokers or other middlemen incur relatively high fees when trading stocks.

This development suggests that DeFi is far from finished and continues to make progress by taking over more functions from traditional financial markets.