Wednesday, November 25, 2020
Home Decrypt News You Can Now Use Crypto to Buy Equity in Tesla, Apple, Google

You Can Now Use Crypto to Buy Equity in Tesla, Apple, Google

In brief

  • There’s a new microequity crypto platform.
  • It’s called MESE.io.
  • Think Robinhood, but crypto.

To hold a share in Tesla is to tie your wealth to the whims of its CEO, Elon Musk. At any moment, Musk may decide that the stock price is “too high IMO” and it will obediently tank. And then the following day, it’ll shoot straight back up. 

For those with weaker stomachs, the new crypto exchange from the International Blockchain Monetary Reserve may prove appealing. MESE.io, launched today, lets you hold microequity in a company listed on the stock market, or 1/10,000th of a share.

So, instead of exposing yourself to the full force of, say, Musk’s mind, MESE.io lets you face one angsty Musk neuron at a time.

The core idea—to hold a small percentage of a share, rather than one whole Tesla share, today priced at $421—exists on regular, non-crypto platforms, such as popular stocktrading app Robinhood. 

MESE.io, however, is powered by crypto, housed on the Algorand blockchain, and powered by ChainUp’s digital cloud exchange tech. To hold one crypto-based microequity token is to hold a cryptocurrency that represents 1/10,000th share in a real stock. 

Available at launch are seven global tech stocks: Microsoft, Apple, Tesla, Twitter, Amazon, Netflix, and Google. 

The advantage of crypto, claims IBMR managing director Sinjin David Jung, is that holders can sell these microequity tokens on secondary markets, including those outside the MESE.io platform. 

On Robinhood, you can send shares to other brokerages, but those must be registered. And Robinhood’s only available in the US, anyway; crypto is global. 

Said Jung in a press release, “It isn’t about fractionalizing the current system, it is about creating new financial opportunities that work at the level of emerging markets where even a single dollar matters.”

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