INX and Backed Expand Tokenized Stock Offerings for Non-U.S. Investors

The Tokenizer September 30, 2024

The INX Digital Company, Inc. (INX), a regulated marketplace for trading security tokens and tokenized assets, and Backed, a company specializing in asset tokenization, have announced the addition of new tokenized stocks on the INX platform. This update builds on the previous launch of tokenized Nvidia stocks, now expanding to include Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME). In the coming month, Apple (bAAPL), alongside tokenized S&P 500 (bCSPX) and iShares Treasury (bIB01) ETFs, will be introduced. These tokenized assets, issued under EU securities regulations and based on the Polygon Proof of Stake (PoS) blockchain, are backed by corresponding traditional stocks.

The expansion allows non-U.S. investors to access traditional securities outside regular market hours using cryptocurrency to fund their accounts. These offerings aim to provide investors with increased flexibility and control, including the option to self-custody securities, allowing assets to be held directly in digital wallets. This integration of traditional and digital finance through blockchain technology brings the added benefit of 24/7 trading and transparency via blockchain ledgers, which define ownership.

INX and Backed’s collaboration aims to broaden access to real-world asset tokens, with further tokenized offerings planned through additional partnerships. According to INX CEO Shy Datika, this marks an important step in advancing the accessibility of the tokenized asset market. Adam Levi, Co-Founder of Backed, emphasized that this initiative builds on the success of the Nvidia token launch, offering a wider range of assets to diversify portfolios.

This initiative leverages Polygon’s PoS blockchain to provide scalable, cost-effective solutions, enabling investors across different regions to engage in the global financial system. As Colin Butler, Global Head of Institutional Capital at Polygon Labs, noted, the collaboration helps ensure accessibility for individuals at various stages of their financial journey.

INX’s platform is designed to meet regulatory standards, offering a secure and transparent environment for trading tokenized assets. The platform’s integration with decentralized finance (DeFi) also allows tokenized stocks to be used as collateral for loans and other financial applications. Non-U.S. residents who meet the eligibility criteria can sign up for an INX account, complete the necessary verification, and begin investing in these tokenized assets.

About INX

INX provides regulated platforms for trading digital securities and cryptocurrencies. It aims to address modern financial challenges by combining traditional market expertise with blockchain technology.

About Backed

Backed is focused on bringing real-world assets onto the blockchain by issuing tokens that track fully collateralized assets, bridging traditional finance and decentralized finance.

Image by Florian Müller from Unsplash