As a seasoned crypto investor with a knack for spotting promising opportunities, I find this development by INX and Backed incredibly exciting. Having navigated through numerous bull and bear markets, I’ve learned to appreciate the potential of blockchain technology in democratizing financial services.
INX and Backed have broadened their offerings for tokenized equity trading, introducing fresh listings on the Polygon blockchain, which are accessible to international investors outside of the United States.
The updated version now offers listings of Tesla [symbol: bTSLA], Microsoft [bMSFT], Google [bGOOGL], and GameStop [bGME] on the INX platform. As stated in a recent press release, every Polygon [MATIC] digital token is directly tied to its real-world equivalent.
In simpler terms, tokenized stocks are electronic representations of traditional stock market investments, stored on a blockchain platform. This means you can buy and sell regular financial assets in the same way you would with cryptocurrencies.
Upcoming tokenized ETFs
In about two weeks, INX is planning to debut its first exchange-traded fund (ETF) tokenized versions – the S&P 500 ETF (bCSPX), Apple ETF (bAAPL), and BlackRock’s iShares Treasury ETF (bIB01). These assets, compliant with EU securities laws, offer non-U.S. investors an opportunity to trade well-known stocks and ETFs using blockchain technology, as stated in the announcement.
Asset tokens are linked to actual shares stored securely by a licensed custodian, giving them the same market value as traditional stocks. The advantage of blockchain technology allows these transactions to happen around the clock, which is different from regular stock market timings and provides greater flexibility for investors. Moreover, these assets can be traded in smaller units, making it simpler for people with limited resources to join in on the investment process.
Shy Datika, CEO of INX, underscored that this action aligns with the company’s objective of expanding opportunities for people to invest in real-world tokenized assets.
Our latest development is a significant stride in our goal to facilitate the trading of tokens representing real-world assets. We’re planning to list more tokenized RWA through strategic partnerships that adhere to regulatory standards. We continue to work towards enhancing the accessibility and streamlining the process of the tokenized asset market, constantly pushing the limits of global finance.
Shy Datika
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2024-09-23 16:30