A new STO by Ambisafe will allow users to buy and hold SpaceX stocks as tokens. 10 UPSX security tokens will represent one entire share of SpaceX.
There’s been much discussion over the idea of tokenized stocks. DX.Exchange, for example, has been actively trying to tokenize many of the top stocks and bring them to the Ethereum blockchain.
Although many of these ideas are still in the works, we now have a tangible project which will bring the idea to fruition.
Tokenized SpaceX Stocks Soon to Be Available
Ambisafe will be releasing a new fund which will purchase SpaceX stocks and offer them to potential cryptocurrency investors.
Although Ambisafe has no direct relationship with SpaceX, the company’s fund will be purchasing the shares in advance and then tokenizing them. 10 USPX tokens will be equal to 1 SpaceX token. Once SpaceX goes public, the entire equity fund which purchased the SpaceX stocks will then be sold: all token holders will receive the payment for their tokens at this time.
The idea behind the STO is to bring a larger investment pool to SpaceX. Because SpaceX is currently not a public company, UPSX tokens will allow those interested in investing in SpaceX a chance to do so. Given that shares are considered legal securities, the offering will formally be an STO.
If successful, UPSX tokens may open the door to other successful companies also offering their own version of tokenized stocks. However, bear in mind that these stocks are not being tokenized directly. Instead, they are first purchased by a fund and then tokenized. As of right now, the regulatory environment does not allow stocks to be tokenized and traded directly, but that may be a possibility in the near future.
Will you be participating in the UPSX token sale? Let us know your thoughts below.
Image courtesy of SpaceX.