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The Nasdaq stock exchange, aimed at technology companies, will be among the companies that will offer real-time pricing for a service that offers tokenized stocks.

Along with Finnhub and Tiingo, the feed Nasdaq’s pricing plan will power services on DeFiChain, a decentralized financial blockchain native to the Bitcoin network dedicated to currency applications and services, according to a company statement.

DeFiChain will offer tokenized shares corresponding to the underlying price of companies listed like Apple Inc., Tesla Inc., Amazon.com Inc. and GameStop Corp., the statement said.

These tokenized shares will be backed by cryptocurrencies, meaning traders will not have to go through an intermediary such as a broker, the statement said.

Tokenized stocks can be purchased in installments in the form of decentralized loans, in a system that will feed the mechanics of stock trading on DeFiChain in an unreliable way (“trustless”) and will use DeFiChain’s native digital currency – DFI – as well as Bitcoin and USD Coin, among other cryptocurrencies, according to the statement.

“This will open the door for a lot of people who are frustrated with traditional markets,” Julian Hosp, co-founder of DeFiChain, said in an interview. “As a community, we are excited about this.”

DeFi tokenized stock trading does not provide any ownership of the underlying asset. Rather, it is a tokenized representation of a stock that, in part, reflects the price of the underlying asset. The token can be traded 24 hours a day, seven days a week.

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