Hassan Maishera
INX, the regulated marketplace for trading security tokens and tokenized real-world assets, and Backed, a pioneer in real-world asset tokenization, announced on Monday, September 23rd, that they are listing additional tokenized stocks on the INX platform for eligible non-US users.
In a press release shared with Cryptowisser, the team said this latest development comes 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.
The tokenized stocks, created under EU securities laws, are live on the Polygon Proof of Stake (PoS) network. They are backed one-to-one by their corresponding underlying stocks, and ownership is conveyed through the blockchain ledger.
Furthermore, 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.
The launch will open 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.
Eligible investors can trade various traditional securities outside standard stock market hours and fund their accounts with cryptocurrency. They can also
While connecting on this latest development, Shy Datika, CEO of INX, said,
"We are excited to broaden our collaboration with Backed by adding these new tokenized stocks to our trading platform. 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, also stated that,
“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 its partnership with Backs introduces 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.
The team explained that Backed’s tokenized assets, including these new listings, are issued under an EU prospectus, which offers full transparency to eligible investors. bTokens holders have primary claims to the collateral value, which is held with a licensed custodian under an account control agreement.
The 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.
INX provides regulated trading platforms for digital securities and cryptocurrencies. Combining traditional market 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.
Meanwhile, 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.
