What Is AlibabaTokenizedStock FTX (BABA)?

Alibaba Tokenized Stock FTX is a tokenversion of the Alibaba stock that allows users topurchase a piece of the stock using cryptocurrency or traditional currencies. Alibaba Tokenized Stock is available on FTX. 

Equities are shares that trade on traditional exchanges, while tokenized stocks are the shares with which FTX offers tokens on ETFs, futures, currencies, or similar products. FTX is an advanced digital asset trading platform developed by traders for traders with an easy-to-use interface.

FTX offer new and innovative products, like industry-first derivatives, options, volatility products, and leveraged tokens. The platform aims to be powerful enough for professional trading firms and intuitive enough for first-time users.

Further, FTX users who trade tokenized stocks also become customers of FTX Switzerland and pass its KYC and compliance. FTX Switzerland is an authorized financial intermediary allowed to offer products like ETFs, futures, currencies, etc. Additionally, trading activity is audited by FTX Switzerland which monitors for compliance. FTX Switzerland also hosts the equities at third-party brokerage firms. 

To trade tokenized shares on FTX, users must be at least level-2 KYC. The requirements for FTX's three different tiers of KYC are as follows:

• Tier Unverified- Email, check for restricted jurisdictions

• Tier 1- Email, full legal name, date of birth, country of residence and region/province, check for restricted jurisdictions, phone jurisdiction

• Tier 2 -Full legal name, date of birth, address, proof of address/phone jurisdiction, description of source assets, passport or other similar government-issued identification, facial verification

Once users are at KYC level-2, they can submit information to FTX Switzerland by going to their tokenized shares KYC page. One more condition is that users should not be members of one of the FTX's restricted jurisdictions. FTX collects all KYC documents and IP addresses from the users.

Holding tokenized shares like BABA on FTX entitles users to dividends of the underlying stocks. FTX takes all reasonable actions to have the tokens on FTX reflect the corporate actions of the underlying stock, including dividends and stock splits. Though it can’t be predicted that the shares will exercise their voting rights, FTX Switzerland does so at its sole discretion.

History of AlibabaTokenizedStock FTX (NIO)

The CEO and the founder of FTX is Sam Bankman-Fried, who has traded various ETFs, futures, currencies, and equities and designed their automated OTC trading system. The other team members include Gary Wang, the CTO and founder. He has built systems to aggregate prices across millions of flights, decreasing latency and memory usage by over 50%.