As a researcher who has spent years studying the intersection of traditional finance and blockchain technology, I find the recent developments at INX marketplace truly exhilarating. The listing of tokenized stocks like Tesla, Microsoft, Google, and Gamestop, among others, for non-US users is a significant stride forward in democratizing financial assets.
On the INX platform, INX marketplace and Backed Finance have made it possible for non-US users to trade tokenized versions of well-known companies like Tesla, Microsoft, Google, and Gamestop. This expansion in on-chain stock trading allows these investors to buy and sell these tokens during hours that are typically outside the standard stock market. Notably, they can also fund their accounts using cryptocurrency.
After the successful debut of tokenized Nvidia, both INX and Backed are broadening their product lineups by listing multiple tokenized stocks for non-U.S. investors. These assets, developed under European securities laws and based on the Polygon Proof of Stake (PoS) network, have a one-to-one correspondence with their underlying stocks. The blockchain ledger records ownership of these assets.
Shy Datika, CEO of INX, expressed enthusiasm about deepening our partnership with Backed by incorporating new tokenized stocks into our trading platform. This move is part of our ongoing efforts to empower the trading of tokens representing real-world assets. Furthermore, INX plans to debut its initial tokenized ETFs, including the S&P 500 ETF (bCSPX), as well as tokenized versions of Apple (bAAPL) and BlackRock’s iShares Treasury (bIB01) ETFs. This launch will pave the way for a host of new digitized financial assets, offering non-US investors the chance to trade a wider variety of traditional financial products using blockchain technology. Eligible investors will be able to trade various securities beyond regular stock market hours and fund their accounts with cryptocurrency during the launch.
As a crypto investor, I can’t help but be excited about Colin Butler’s words as Global Head of Institutional Capital at Polygon Labs. He underscored that the essence of public, open-source blockchains lies in democratizing financial assets. This revolutionary project, established on Polygon PoS, offers an opportunity for people like me who were once excluded from basic investment and savings options to finally join the fundamental pillars of the global financial system.
This growth represents another important step forward in making it easier for more people to invest in conventional financial resources, while also combining their constant liquidity and convenience with the digital asset market.
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2024-09-23 16:36