Uber tokenized stock FTX (UBER) is a token version of the Uber stock allowing holders/users to gain a piece of the stock with the help of cryptocurrency or traditional currencies. The tokenized stock is available on the FTX platform, an advanced digital asset exchange platform created for users with an easy-to-use interface.
FTX is a cryptocurrency exchange developed by traders. FTX offers new and innovative products, including industry-first derivatives, options, volatility products, and leveraged tokens. The platform strives to develop a platform powerful enough for professional trading firms and intuitive enough for first-time users.
As per the website, tokenized stocks aim to offer users the following:
All FTX users who trade tokenized shares also become customers of FTX Switzerland and pass its KYC and compliance. Additionally, FTX Switzerland monitors all trading activity for compliance. FTX Switzerland also hosts shares of third-party brokerage firms.
To trade tokenized shares on FTX, users need to meet at least level 2 KYC. After completing KYC, users submit information to FTX Switzerland by going to their tokenized shares KYC page. Users should not be members of one of the FTX's restricted jurisdictions, including the United States. FTX collects all KYC documents and IP addresses from the users.
Holding tokenized shares on FTX entitles users to dividends on the underlying shares, etc. FTX takes all reasonable actions to have the tokens on FTX reflect the corporate actions of the underlying stock, including dividends and stock splits. Although FTX Switzerland does so at its sole discretion, these shares are not expected to exercise voting rights.
