INX and Backed expand tokenized stock offerings for Non-US investors
The post INX and Backed expand tokenized stock offerings for Non-US investors appeared on BitcoinEthereumNews.com.
INX, a security token and tokenized real-world assets (RWA) marketplace, has expanded its offerings for eligible non-US users by teaming up with Backed, a namereal RWA platform, as reported to Finbold on Monday, September 23. The expansion reflects the growing trend of financial assets digitization and offers more diverse trading opportunities for non-US investors. Tokenized stocks on INX Eligible non-US investors can now trade tokenized versions of Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME) shares. These shares were created under European Union (EU) securities laws, tokenized on Polygon’s Proof-of-Stake (PoS) blockchain, and backed 1:1 by their underlying stocks. In just two weeks’ time, INX is set to further expand its offerings with the first tokenized exchange-traded fund (ETF), the S&P 500 ETF (bCSPX), alongside tokenized Apple (bAAPL) shares and BlackRock’s iShares Treasury ETF (bIB01). Investors can now trade a wide range of securities 24/7, bypass the usual stock market hours, and fund their accounts using cryptocurrency. INX CEO Shy Datika commented on the expansion, stating: “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.” The broader implications of the INX-Backed partnership Backed’s Co-Founder, Adam Levi, emphasized the broader implications of the partnership, noting: “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…
Filed under: News - @ September 23, 2024 2:23 pm