How to purchase SPDR S&P 500 ETF tokenized stock FTX (SPY)
What is SPDR S&P 500 ETF tokenized stock FTX
What are tokenized stocks?
Equities are stocks that trade on traditional regulated exchanges. FTX lists tokens on select equities. These spot tokens are backed by shares of stock custodied by CM-Equity. They can be redeemed with CM-Equity for the underlying shares if desired.
CM-Equity is fully regulated in Germany, and is a licensed financial institution permitted to offer such products. All FTX users who trade tokenized stocks may also have to become customers of CM-Equity, and pass through CM-Equity's KYC and compliance. Furthermore, all trading activity may be monitored for compliance by CM-Equity. CM-Equity custodies the equities at a third party brokerage firm. CM-Equity (not FTX Trading LTD) provides the brokerage services.
How to buy SPY?
How to buy SPY on Neko Invest app
: Create/Login to your Neko Invest app account
: Go to Market page, click on the Search icon and search SPY in the search bar.
: Click on SPY logo and choose Invest.
: Entering the amount of SPY that you want to buy. Then click on the Get Quotes button.
: Swipe the Swipe to swap button and now you own SPY. You can check your SPY balance in your wallet by going to Wallet page.