INX and Backed, two prominent players in the tokenization of real-world assets, have made an exciting announcement today. They are launching new tokenized stocks on the INX platform specifically for qualified non-US customers. As a regulated marketplace for trading security tokens and tokenized real-world assets, INX is committed to expanding its portfolio and providing more options for investors.
Following the successful introduction of tokenized Nvidia, INX and Backed are now adding tokenized equities of Gamestop (bGME), Microsoft (bMSFT), Google (bGOOGL), and Tesla (bTSLA) to their platform. These assets are backed by the actual underlying equities and are issued in compliance with EU securities legislation. Ownership of these tokenized assets is securely transferred via the blockchain ledger and they are tokenized on the Polygon Proof of Stake (PoS) network.
In two weeks, INX will introduce the tokenized S&P 500 ETF (bCSPX), as well as tokenized Apple (bAAPL) and BlackRock’s iShares Treasury (bIB01) ETF. This milestone will provide non-US qualified investors with even more options to trade a wider variety of conventional financial products on-chain and access a new range of digital financial assets.
This development is a significant step towards democratizing access to conventional financial assets by merging them with the liquidity and accessibility of the digital asset market. Qualified investors will be able to fund their accounts with cryptocurrencies and trade conventional assets outside of regular stock market hours.
By offering self-custodied securities, traders can take advantage of new opportunities and improve the efficiency and flexibility of their portfolios. INX is dedicated to increasing the number of real-world assets (RWAs) available for on-chain trade, as part of their mission to bridge the gap between conventional and on-chain finance.
Shy Datika, CEO of INX, expressed his enthusiasm for this partnership, stating that it will provide tokenized shares as an additional asset type on the INX platform. Adam Levi, Co-Founder of Backed, highlighted the transparency provided to qualified investors through the EU prospectus and the security offered by blockchain technology. Colin Butler, Global Head of Institutional Capital at Polygon Labs, emphasized the benefits of self-custody and the ability to trade around-the-clock.
With these new listings, traders will have access to fractional ownership, round-the-clock availability, and enhanced security through the blockchain. The tokenized assets issued by Backed are backed by collateral and held by a certified custodian, ensuring transparency and the rights of bToken holders. The distributed ledger defines ownership, offering unparalleled security and transparency.
One of the key features of this offering is self-custody, allowing investors to maintain control over their assets by holding securities directly in their wallets. The INX platform enables trading at any time, providing users with greater freedom and the ability to transact outside of regular market hours. Investors can also use their tokenized equities as collateral for loans or other DeFi applications through integration with Decentralized Finance (DeFi).
The use of blockchain technology guarantees improved transparency and security. This product is available on the INX platform to authorized users and non-US citizens, offering the convenience of on-chain transactions and the option to fund accounts with cryptocurrencies to participate in these tokenized equities. Investors simply need to register for an account on the INX platform and complete the necessary verification steps to get started.
