Announced at Money 20/20, Bitcoin-based partnership provides DApp users direct access to stock exchange-listed funds, recorded on a blockchain
WallStreetBets founder Jaime Rogozinski took the stage at Money 20/20, the world’s largest fintech event, to announce that the WallStreetBets decentralized application (WSBDApp) is launching its novel DeFi products onto the Bitcoin blockchain via the sidechain Liquid Network, created by Bitcoin infrastructure company, Blockstream. In the plans, the WSBDApp will facilitate securities trading by working with the Digital Markets (DIGTL), Liquid and MERJ Exchange (MERJ) alliance to provide access to exchange-traded portfolios, tokenized stocks of major global companies and other assets voted upon by the WSBDApp community.
“WallStreetBets has captured the imagination of millions in its face-off against some of the most predatory hedge-fund practices. The movement’s objective to create fair and open markets dovetails perfectly with open blockchain settlement,” said Samson Mow, CSO of Blockstream. “Liquid’s sidechain-based settlement network is the ideal asset issuance and management platform to support the WallStreetBets vision of providing everyone safe and equal access to capital markets.”
To develop this revolutionary project, WallStreetBets is first engaging DIGTL, the investment technology company known for connecting the world’s best assets with global investors through a network of digital securities exchanges. DIGTL will connect WallStreetBets to MERJ, an award-winning global securities exchange for traditional and digital securities, to list its securities.
"Our mission has always been providing fair and democratic access to the capital markets through the use of technology. To this end we look forward to working with this team to propel the mass adoption of digital securities and cryptocurrencies on our regulated securities market infrastructure,” said Ed Tuohy, CEO of MERJ.
How this full-circuit investment ecosystem works:
- Bitcoin (Layer 1 - Network)
- Liquid (Layer 2 - Securities issuance and registry)
- MERJ (Layer 3 - Exchange and market infrastructure)
- DIGTL (Layer 4 - Issuer and investor interfaces)
- WSB (Issuer and investor community)
United by a mission to democratize access to high-quality investment opportunities, WallStreetBets will provide its robust community of investors with a global retail secondary securities trading platform, provided by DIGTL and MERJ, and expand investment access and increased liquidity to investors. DIGTL will support all aspects of an exchange listing, including a custom investor experience to enable securities trading on the WallStreetBets web properties, resulting in a completely integrated and full-circuit capital market system that can't be interrupted.
Through this partnership, WallStreetBets will solve the most important challenge first: providing global retail investors with a solution to corrupted markets. If you’ve followed this past year’s GameStop short squeeze saga, you might have gotten the impression that WallStreetBets isn’t too fond of hedge funds. And with most hedge funds requiring hundreds of thousands or even millions of dollars to participate, it’s not hard to see why the average retail investor isn’t exactly cheering on their success. Enter “The People’s Fund,” which is exactly what you hope it sounds like – a crypto hedge fund for the people, managed by industry experts at DIGTL – and it costs less than $1 per share, available to any retail investor in the world. Now you don’t have to be on Wall Street or a member of the ultra-wealthy to have access to cutting-edge investment funds.
“Partnering with WallStreetBets is very exciting as our mission has always fundamentally been about ‘power to the people,’ which perfectly aligns us with the community,” said James Wallace, Chair of DIGTL. “We’ve been building the technology and financial infrastructure for several years to facilitate the issuance, listing and trading of digital securities in order to evenly distribute access to capital markets globally. We seek to allow all of the world’s people to ‘vote with their dollars’ and shape the future by investing in assets they believe in. The People’s Fund will provide truly even access to an advanced hedge fund and allow the WallStreetBets community, and any other similarly-minded people, to access the markets with the most sophisticated custom algorithms and advanced research and analysis, to ensure optimal entries and exits from these markets and protect them from common predatory trading practices.”
“WallStreetBets and DIGTL share a common vision of a market void of payment for order flow, aggressive short-selling practices and other market manipulations,” said Jaime Rogozinski, founder of WallStreetBets and strategic partner of the WSBDApp project. “With our community of Apes and DIGTL’s top-tier trading infrastructure, technology and investment team, this partnership will open up select high-quality investment opportunities to regular investors for the first time ever. The future of finance is not on Wall Street, and propelling mass adoption of digital securities and cryptocurrency through familiar financial products is a huge step in the right direction.”
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to any exemption or registration under the securities laws of any such state or jurisdiction.
About WallStreetBets
Founded in 2012, WallStreetBets is a movement that aims to empower the “little guy” investors of the world against unaccountable financial institutions. The movement lacks formal leadership and is instead a grassroots decentralized effort to leverage the power of community organizing for bringing accountability and transparency.
Website: https://www.wsbdapp.com/ | Twitter: https://twitter.com/WSBDapp
About Digital Markets
Digital Markets (DIGTL) connects the world’s best assets with global investors through a network of digital securities exchanges and alternative trading venues, allowing issuers to quickly access the world’s capital at a fraction of the cost, and providing investors with exciting investment opportunities.
Website: https://digtl.co/ | Twitter: https://twitter.com/digtlmarkets
About MERJ Exchange
MERJ Exchange and its group collectively operate a complete set of regulated market infrastructure—spanning exchange, clearing, settlement, registry and depository services. Thanks to their vertically integrated operating model and robust regulatory framework, MERJ has become a respected innovator of the global securities markets.
Website: https://merj.exchange/ | Twitter: https://twitter.com/merjexchange
About Liquid Network
The Liquid Network is a sidechain-based settlement network for traders and exchanges, enabling faster, more confidential Bitcoin transactions and the issuance of digital assets. The Liquid Network is operated and managed by its federated members, ensuring the system has no single point of failure.
Website: Liquid.net | Twitter: https://twitter.com/Liquid_BTC
About Blockstream
Blockstream is the global leader in Bitcoin and blockchain infrastructure. Blockstream Mining provides enterprise-class mining facilities for the collocation of Bitcoin mining operations. The Cryptocurrency Data Feed, developed in partnership with Intercontinental Exchange, delivers best-in-class real-time and historical exchange data. Blockstream Green is the world’s most advanced consumer Bitcoin wallet. Blockstream was founded in 2014, with offices and team members distributed around the world.
Website: https://blockstream.com/ | Twitter: https://twitter.com/blockstream
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