Switzerland-based token issuer Digital Assets AG, or DAAG, has officially launched its stock-tokenization infrastructure on the Solana blockchain, offering users of the FTX trading platform a novel way for accessing traditional equity markets. 

During the initial rollout, FTX users who have completed Know Your Customer documentation will have access to 55 free-floating stocks, available 24 hours a day, 365 days a year, Digital Assets AG announced Thursday. That means users in permitted jurisdictions will be able to buy, sell and withdraw the assets at any time.

Free-floating stocks are assets that have received regulatory approval to trade on tokenized platforms. As DAAG explained, they represent the number of shares of a given asset excluding locked-in shares, such as those held by company executives.

The tokenized stock offerings are valid in the European Economic Area, or EEA, through a prospectus endorsed by Liechtenstein’s Financial Market Authority, DAAG said.

DAAG executive Brandon Williams explained his firm’s rationale for launching on Solana:

“The move from operating on a private blockchain to operating on Solana will offer a much more efficient, and cost-effective environment for the trading and utilization of tokenized stocks [...] We envision the entirety of traditional finance and capital markets being able to operate on the blockchain and Solana was the obvious choice.”

Meanwhile, FTX already offers tokenized stock trading. As Cointelegraph reported, FTX debuted the Coinbase pre-IPO contract on the eve of the company’s public listing in April.

Sam Bankman-Fried, founder and CEO of FTX, said, “DAAG’s tokenized stock infrastructure will help facilitate a paradigm shift in the underlying market structure…”

Related: Metaplex NFT marketplace launches on Solana

Solana has received tremendous support from investors, venture capitalists and other market participants. The crypto startup recently raised $314 million from several high-profile investors to expedite the development of its high-performance blockchain. Andreessen Horowitz and Polychain Capital led the raise, with additional contributions from the likes of Alameda Research, Blockchange Ventures, CMS Holdings and CoinShares, among others.