INX, the regulated marketplace for trading security tokens and tokenized real-world assets, and Backed, a pioneer in real-world asset tokenization, today announced the listing of additional tokenized stocks on the INX platform for eligible non-US users.
Following the successful launch of tokenized Nvidia, INX and Backed are now expanding their offerings with the listing of tokenized Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and Gamestop (bGME) stocks. These assets, created under EU securities laws and tokenized on the Polygon Proof of Stake (PoS) network, are backed one-to-one by their corresponding underlying stocks, with the blockchain ledger conveying ownership.
In two weeks, INX will launch its first-ever tokenized ETF, the S&P 500 ETF (bCSPX), alongside tokenized Apple (bAAPL) and BlackRock’s iShares Treasury (bIB01) ETF. This milestone opens a new range of financial assets to be digitized, expanding opportunities for non-US eligible investors to trade a broader spectrum of traditional financial products on-chain.
This expansion marks a significant step toward democratizing access to traditional financial assets, combining them with the 24/7 liquidity and accessibility of the digital asset space. Eligible investors will have the ability to trade a variety of traditional securities outside standard stock market hours and fund their accounts with cryptocurrency.
This expansion marks another significant milestone in democratizing access to traditional financial assets and merging them with the 24/7 liquidity and accessibility of the digital asset space. Non-US eligible investors will have the ability to trade a variety of traditional securities, outside of standard stock market hours, with the option to fund their accounts with cryptocurrency.
Self-custodied securities continue to open new possibilities for traders, enhancing the flexibility and efficiency of their portfolios. As part of our mission to bridge traditional and on-chain finance, we are continually working to expand the range of real-world assets (RWAs) available for on-chain trading.
“We are excited to broaden our collaboration with Backed by adding these new tokenized stocks to our trading platform ,” said Shy Datika, CEO of INX. “This expansion is another step forward in our mission to enable the trading of real-world asset tokens. We aim to list additional tokenized RWA through other strategic partnerships regulations. We remain committed to advancing the accessibility and efficiency of the tokenized asset market, pushing the boundaries of global finance.”
Adam Levi, Co-Founder of Backed, added, “The launch of bNVDA was just the beginning. By adding Microsoft, Tesla, S&P 500 ETF and others,we are offering investors an even wider range of tokenized assets to build their portfolios. We believe this is the future of finance, where traditional assets and digital markets converge seamlessly on the blockchain.”
Colin Butler, Global Head of Institutional Capital at Polygon Labs, added, “At the core of public, open-source blockchains is the democratization of financial assets. This groundbreaking initiative, built on Polygon PoS, enables individuals who previously lacked access to basic investment and savings vehicles to finally participate in foundational aspects of the global financial system. With Polygon PoS as a scalable, low-cost, and secure foundation, this expansion ensures accessibility for everyone, no matter where they are on their financial journey.”
INX provides a marketplace for tokenized assets, and this partnership with Backed brings additional assets in the form of tokenized shares to this market. These new listings allow traders to benefit from 24/7 availability, fractional ownership, and the security of blockchain technology.
Backed’s tokenized assets, including these new listings, are issued under an EU prospectus, offering eligible investors full transparency. Holders of these bTokens have primary claims to the collateral value, which is held with a licensed custodian under an account control agreement. The distributed ledger (blockchain) defines ownership, providing unparalleled security and transparency.
The key features of this offering include self-custody, allowing investors to hold securities directly in their own wallets, maintaining full control over their assets. The platform offers 24/7 trading, enabling transactions beyond traditional market hours and providing greater flexibility. Integration with decentralized finance (DeFi) allows investors to use their tokenized stocks as collateral for loans or other DeFi applications.
The use of blockchain technology ensures enhanced security and transparency. Additionally, this offering is available to non-US residents and approved customers on the INX platform, with the convenience of on-chain transactions, where accounts can be funded with cryptocurrency to invest in these tokenized stocks. To get started, investors simply need to create an account on the INX platform and complete the necessary verification process.
INX provides regulated trading platforms for digital securities and cryptocurrencies. Combining traditional markets expertise with a disruptive fintech approach, INX offers state-of-the-art solutions to modern financial challenges. The company is led by a dedicated team of business, finance, and technology veterans with a shared vision of redefining capital markets through blockchain technology and a disciplined regulatory approach.
Website: https://www.inx.co/
Backed brings real-world assets on-chain, issuing permissionless tokens that track the value of fully collateralized real-world assets, such as stocks or ETFs. Tokens are issued under an approved EU prospectus, bridging the gap between TradFi and DeFi for institutional clients.
This post was last modified on Sep 23, 2024, 18:31 BST 18:31