INX, a marketplace known for its regulated trading of security tokens and tokenized real-world assets, has joined forces with Backed, a pioneer in asset tokenization, to bring a wider array of stocks into the digital realm. Building on the success of their tokenized Nvidia stock, INX and Backed have now introduced a fresh lineup of digital assets to their platform. Eligible investors outside the United States can now trade tokenized versions of some of the most sought-after stocks in the market: Tesla, Microsoft, Google, and even the much-discussed GameStop.
New Listings
The new tokenized stocks available on the INX platform include:
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Tesla (bTSLA)
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Microsoft (bMSFT)
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Google (bGOOGL)
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GameStop (bGME)
These assets are created under EU securities laws and tokenized on the Polygon Proof of Stake (PoS) network. Each token is backed one-to-one by its corresponding underlying stock, with ownership conveyed through the blockchain ledger.
But what exactly are these tokenized stocks? Imagine taking a traditional share and giving it a digital makeover. These new assets, created under EU securities laws and brought to life on the Polygon Proof of Stake network, represent a one-to-one relationship with their underlying stocks. It's as if each share has been given a unique digital twin, with ownership recorded on a blockchain ledger instead of traditional books.
The expansion doesn't stop there. INX has its sights set on even broader horizons. In the coming weeks, they plan to unveil their first tokenized ETF – a digital version of the S&P 500 ETF. Alongside this landmark addition, tokenized Apple stock and BlackRock's iShares Treasury ETF are also slated to join the roster. It's a move that signals a growing bridge between the worlds of traditional finance and digital assets.
What makes these tokenized stocks stand out? For starters, they offer a level of flexibility that traditional stocks can't match. Imagine being able to trade your favorite stocks 24 hours a day, 7 days a week. Or picture holding your stocks not in a brokerage account, but directly in your own digital wallet. These tokens even open doors to the world of decentralized finance, potentially serving as collateral for loans or other innovative financial products.
Of course, with innovation comes the need for robust safeguards. Backed has ensured that these tokenized assets are issued under an EU prospectus, providing a layer of transparency for eligible investors. The underlying value is secured with a licensed custodian, and token holders have primary claims to this collateral. It's a blend of cutting-edge technology and traditional financial security.
For now, this digital stock revolution is accessible to non-US residents and approved customers on the INX platform. Interested investors can dive in by creating an account and completing the necessary checks. What's particularly intriguing is the ability to fund these investments with cryptocurrency, further blurring the lines between traditional and digital finance.
As we witness this merger of Wall Street and the blockchain, questions naturally arise. Could this be the future of stock trading? Will we see a day when all stocks have digital counterparts? While it's too early to say for certain, one thing is clear: the financial landscape is changing. Traditional assets are finding new homes on digital ledgers, potentially opening up global markets in unprecedented ways.
This expansion of tokenized stocks represents more than just a new investment option. It's a glimpse into a possible future where financial assets move freely across digital platforms, where trading hours are a thing of the past, and where the average investor has more direct control over their assets than ever before.
As the dust settles on this latest development, the financial world watches with bated breath. Will this be the spark that ignites a wider adoption of tokenized assets? Only time will tell. But for now, it's clear that the lines between traditional finance and the digital frontier are becoming increasingly blurred, potentially reshaping how we think about investing in the digital age.
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Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR
