Alliance-backed Daya expands beyond stablecoins with tokenised US stock trading

Daya , a Nigerian startup building stablecoin-powered payment infrastructure for African businesses, has launched tokenised stocks for users to buy and sell digital versions of US stocks on the blockchain. It joins several other Nigerian and Africa-focused fintechs, such as NectarFi , Luno , Blockchain.com , and Roqqu , that have launched or are preparing to launch similar products. Tokenised stocks are becoming a dime a dozen in Nigeria’s crypto sector as startups race to broaden the use of blockchain beyond digital currencies and into traditional finance. For companies that built their businesses around stablecoins and cryptocurrency trading, tokenised equities offer a new revenue stream while giving retail investors fractional access to global financial markets without relying on conventional brokerages. Daya Stocks, which is already live in testing, will offer more than 400 US-listed stocks and exchange-traded funds (ETFs), including shares in Nvidia and Tesla, as well as the S&P 500 ETF, with a minimum investment of $1, according to Paul Joe, Daya’s co-founder. The startup said trading will be available around the clock and users will pay a 0.25% transaction fee. The launch al