Stove Finance’s tokenized U.S. and South Korean equities went live on Uniswap (CRYPTO: $UNI) Wednesday, giving the exchange’s users onchain access to stock markets for the first time through its UniswapX trading system.
According to the press release, the integration will run on UniswapX’s request-for-quote framework, where market makers compete to price Stove’s equity tokens and trades settle atomically onchain, meaning the swap either completes in full or not at all.
Stove says it will handle the underlying infrastructure that brings those securities onchain in the first place, managing issuance, trading, settlement and corporate actions for equities out of the U.S., Hong Kong and South Korea, with more markets currently in development.
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Tuesday’s launch starts with the U.S. and South Korean tokens, and the companies expect to add more as Stove’s coverage grows.
Stove Finance CEO Daniel Lau described the Uniswap integration as an early step toward a larger goal, saying the company wants to see equities from markets around the world become part of the onchain financial ecosystem and plans to keep expanding the range of assets it connects to onchain liquidity.
The launch follows Stove’s recent rollout of Stove Flow, a system built to let its tokenized equities circulate across a wider range of DeFi applications while keeping each token tethered to the security it represents.
For Uniswap, the deal adds another asset class to a protocol that has already processed more than $4.6 trillion in all-time trading volume across its suite of products, including its web app, wallet, API and UniswapX.
Uniswap (CRYPTO: UNI) is currently sitting at $7.90 per token.
