As an experienced financial analyst with a background in traditional stock markets and a deep interest in blockchain technology, I find Backed’s latest announcement of five new tokenized equities to be an exciting development that bridges the gap between traditional finance and decentralized finance (DeFi).
Backed, a tokenization platform, has announced the launch of five new tokenized equities.
As a researcher, I’ve compiled a list of securities that are part of my analysis: Microsoft (MSFT in my database), GameStop (GME), MicroStrategy (MSTR), Tesla (TSLA), and Alphabet’s Class A shares (GOOGL).
Eligible non-US investors can access these tokens, offering them investment in S&P 500 firms without moving their assets off the blockchain for safekeeping.
Investors have the new opportunity to purchase digital tokens that mirror the value of Microsoft, GameStop, MicroStrategy, Tesla, and Alphabet shares. This enables investors to conduct stock transactions non-stop on the blockchain platform. The financial industry, specifically Wall Street, is also exploring the possibility of adopting continuous trading.
The idea here is akin to exchange-traded funds (ETFs) focused on cryptocurrencies, which represent and follow the price movements of a specific asset.
Tokenized stocks
Based on my extensive experience in the financial technology industry and working closely with Backed, I can confidently say that this expansion is a significant step forward for their platform. As someone who has witnessed the growing trend towards tokenization of assets, I am excited to see Backed adding more stocks to their already impressive list.
“Bernardo Quintao, Head of Business Development at Backed, announced our recent introductions: bMSFT, bGME, bMSTR, bTSLA, and bGOOGL. This signifies our dedication to merging conventional finance with blockchain technology. A significant move towards making financial markets more accessible and providing investors with enhanced autonomy over their assets.”
As a financial analyst, I can assure you that the tokens issued by Backed are fully collateralized with the underlying equities. This arrangement provides investors with the confidence to trade these tokens knowing that their value is directly tied to the corresponding stocks. Additionally, Backed’s mission is twofold: firstly, to make financial markets more accessible to a wider audience through tokenization; and secondly, to foster innovation in blockchain technology by seamlessly integrating traditional finance with digital assets.
Apart from stocks, Backed provides access to tokenized corporate and government bonds, which encompasses T-bills. Notably, Backed’s bIB01 token has been incorporated into the Arbitrum Decentralized Autonomous Organization (DAO)’s treasury recently.
Using tokenized stocks offered by Backed, builders and developers in the decentralized finance (DeFi) sector now have expanded possibilities. These tokens function as collateral for various financial services and merchandise within the DeFi environment, thereby fostering compatibility and enabling self-custody.
In the future, as envisioned by Backed, the divisions between conventional and digital economies will be erased, giving way to a unified, globally interconnected financial network.
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2024-07-16 16:46