INX, a regulated marketplace for trading security tokens and tokenized real-world assets, has announced an exciting expansion of its offerings in collaboration with Backed, a pioneer in real-world asset tokenization. This fresh initiative will give eligible international users the opportunity to trade further tokenized stock on the INX platform. In the wake of a successful launch of Nvidia share tokens, the platform will next include tokenized forms of Tesla (bTSLA), Microsoft (bMSFT), estop (bGME) stocks, and Google (bGOOGLGam).
INX to Introduce First Tokenized S&P 500 ETF and Additional Stocks
These digital assets, which are tokenized according to European Union securities laws, are constructed on the Polygon Proof of Stake (PoS) network. Each token represents a one-to-one backing by its corresponding underlying stock, guaranteeing secure ownership recorded on the blockchain. This creative approach is designed to simplify the way investments are managed, ensuring that users find the process easier.
The first-ever tokenized exchange-traded fund (ETF), focusing on the S&P 500, and tokenized stocks including Apple and BlackRock’s iShares Treasury ETF are scheduled for launch in two weeks’ time by INX. This achievement will diversify the trading assets available, allowing non-US eligible investors to access a wider range of traditional financial products in digital form.
The expansion is a considerable contribution to democratizing the accessibility to financial assets. Eligible investors will be able to trade across several traditional securities outside of typical stock market hours and can support their accounts by using cryptocurrency. Traders have new opportunities to optimize their investments through this flexibility.
New Partnership Enhances INX Platform, Merging Traditional and Digital Assets
Shy Datika, the CEO of INX, was excited about the new partnership. He revealed that they are excited to deepen their partnership with Backed by incorporating these new tokenized stocks onto the trading platform. He pointed out that this growth is a key aspect of their mission to boost the trading of real-world asset tokens.
Co-Founder of Backed, Adam Levi, stressed this point, noting that having stocks like Microsoft and Tesla on the platform permits investors to diversify their investments even more. He pointed out that this development symbolizes the future of finance, where conventional assets intertwine naturally with digital markets 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 systemWith 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.”
The INX platform has expanded with features such as user self-custody, 24/7 trading, and links to decentralized finance (DeFi) applications, which give investors increased control over their funds. As they introduce innovation into the tokenized asset market, INX and Backed are leading the charge for a new phase of finance that joins together traditional assets with the advanced technology of blockchain.
