INX has broadened its services for eligible non-US users by partnering with Backed, a well-known platform for real-world asset tokenization, according to a report by Finbold on Monday, September 23. This expansion aligns with the increasing trend of digitizing financial assets and presents a wider array of trading opportunities for non-US investors.
The collaboration now allows eligible non-US investors to engage in trading tokenized versions of popular stocks like Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME) shares. These tokenized shares, compliant with European Union securities laws, are backed 1:1 by the actual stocks and tokenized on Polygon’s Proof-of-Stake blockchain.
Coming soon, INX plans to introduce the first tokenized exchange-traded fund (ETF), the S&P 500 ETF (bCSPX), in addition to tokenized Apple (bAAPL) shares and BlackRock’s iShares Treasury ETF (bIB01). This expansion provides investors with the ability to trade diverse securities around the clock, utilize cryptocurrency to fund their accounts, and access a range of benefits including fractional ownership, 24/7 trading, and increased security.
By incorporating these new tokenized assets, INX and Backed are revolutionizing traditional assets through blockchain technology and enhancing accessibility to global financial markets. Through strategic partnerships, INX aims to continue listing additional tokenized real-world assets, further expanding the efficiency and accessibility of the tokenized asset market. The partnership signifies a monumental step towards merging traditional assets with digital markets seamlessly on the blockchain.
The collaboration between INX and Backed not only introduces a wider range of tokenized assets for investors but also represents a pioneering initiative in democratizing financial assets. Utilizing Polygon’s PoS blockchain guarantees scalability, low-cost, and enhanced security, ensuring individuals from all financial backgrounds can participate in the global financial system. With the freedom to self-custody assets and directly hold them in personal wallets, investors maintain control over their securities, strengthening trust and security in the digital asset space.