OKX Rolls Out Round the Clock Trading for Mag Seven Stocks Using Crypto Collateral

OKX has launched much than 20 equity perpetual swap contracts, offering users crossed Asia, the CIS region, Latin America, and Türkiye vulnerability to commercialized large planetary stocks astir the timepiece utilizing crypto arsenic collateral.

The motorboat includes the afloat “Magnificent 7”—Nvidia, Tesla, Apple, Alphabet, Microsoft, Amazon, and Meta, according to a connection shared with Decrypt.

It besides covers crypto-linked firms specified arsenic Strategy, Coinbase, Robinhood, and Circle, arsenic good arsenic exertion stocks Palantir, Intel, Micron, and SanDisk, and the S&P 500 tracker SPY.

The equity perp motorboat is framed arsenic the archetypal signifier of a broader rollout, with OKX readying to grow its scope of equity contracts and tokenized real-world plus vulnerability successful the coming months.

It’s OKX's latest propulsion into real-world assets, arsenic crypto exchanges progressively vie to connection accepted marketplace vulnerability to retail investors who look hurdles accessing U.S. equities done accepted brokerages successful galore parts of the world.

All contracts are denominated successful USDT and connection up to 5x leverage, allowing traders to respond to net releases, macroeconomic developments, and market-moving events adjacent erstwhile accepted equity markets are closed, the connection said.

Unlike tokenized equities that correspond existent shares, equity perpetual swaps are derivatives that way terms movements without granting ownership, placing them person to synthetic vulnerability products already offered by different exchanges.

“I deliberation these instruments volition bid a bully pursuing from momentum-driven retail investors,” Peter Chung, caput of probe astatine Presto Labs, told Decrypt. “Crypto exchanges are acold much accessible venues for retail investors successful galore jurisdictions astir the world.”

“On accepted rails, these names are often beyond their scope owed to assorted hurdles,” helium added.

Asked however the merchandise differs from those offered astatine rival platforms, including Binance, an OKX spokesperson told Decrypt its offering is differentiated by its “unified trading account.”

The spokesperson said the level allows users to involvement assets and usage them arsenic collateral for equity perpetual positions, with those assets continuing to make output portion positions stay open.

A unified trading relationship allows users to deploy a scope of crypto assets, including Bitcoin, Ethereum, USDT, and staked holdings, arsenic collateral crossed positions.

"This is 1 measurement towards bringing a broader scope of real-world assets into our platform,” the spokesperson said erstwhile asked astir the prime of perpetual swaps implicit tokenized equities representing existent shares.

“We volition support expanding our infrastructure to enactment vulnerability to planetary equities portion allowing traders to usage their crypto portfolios for this,” they said.

The rollout follows OKX's high-profile tie-up with Intercontinental Exchange, the New York Stock Exchange's genitor company, which invested successful OKX earlier this period astatine a $25 cardinal valuation. 

The woody is besides expected to alteration OKX users to commercialized tokenized stocks and derivatives listed connected the NYSE starting successful the 2nd fractional of the year. 

OKX’s autochthonal token, OKB, is trading astatine $85, up 0.3% successful the past day, and down 11.7% successful the past 7 days, according to CoinGecko data.