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WallStreetBets dApp to launch retail funds on Bitcoin’s Liquid Network WallStreetBets dApp to launch retail funds on Bitcoin’s Liquid Network
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WallStreetBets dApp to launch retail funds on Bitcoin’s Liquid Network

Announced at Money 20/20, the Bitcoin-focused partnership provides dApp users direct access to stock exchange-listed funds on the world’s biggest blockchain by marketcap.

WallStreetBets dApp to launch retail funds on Bitcoin’s Liquid Network

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin development firm Blockstream is building a new DeFi product that facilitates securities trading on the Bitcoin network, announced WSB founder Jaime Rogozinski in an event yesterday.

The day WallStreetBets turned to Bitcoin

The WallStreetBets decentralized application (WSBDApp) would launch the 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,” explained 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,” he added.

The product works as follows: WallStreetBets first engages DIGTL, the investment technology company known for connecting the world’s best assets with global investors through a network of digital securities exchanges. DIGTL in turn connects to MERJ, a global securities exchange for traditional and digital securities, to list its securities.

The ‘People’s Fund’

Through this partnership, WallStreetBets hopes to provide global retail investors with a solution to corrupted markets. And there’s also a way for investors to collectively invest in and trade the companies they’re fond of.

Enter “The People’s Fund,” – a crypto hedge fund for the people, managed by industry experts at DIGTL – costing less than $1 per share and open to any retail investor in the world.

“The People’s Fund will allow the community 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,” said James Wallace, Chair of DIGTL.

Update 26 Oct at 16:56 – The article was updated to reflect that the WallStreetBets dApp is not affiliated with the Reddit group.

Posted In: , Trading