INX and Backed have expanded their tokenized stock trading platforms with Polygon blockchain listings for non-US investors.
New listings on the INX platform for Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME) are part of this expansion.
A press release that was provided states that every digital token on the Polygon blockchain is backed exactly one-to-one by its analogy in the real world.
Tokenized stocks are blockchain-based digital representations of physical equities that let users trade conventional financial assets like cryptocurrencies.Â
Upcoming Tokenized ETFs
The S&P 500 ETF (bCSPX), which will be INX’s first tokenized ETF, will be live in two weeks along with tokenized versions of BlackRock’s iShares Treasury (bIB01) and Apple (bAAPL).
According to the statement, these instruments, developed by EU securities legislation, allow non-US investors to trade well-known companies and exchange-traded funds (ETFs) utilizing blockchain technology.
Tokenized assets are closely linked to the traditional market because they are backed by actual stocks that a registered custodian holds.
Unlike regular stock market hours, transactions on the blockchain can happen around the clock, giving investors greater flexibility.
Additionally, smaller parts of these assets can be traded, facilitating participation by people with low financial resources.
Shy Datika, CEO of INX, highlighted that this move advances the company’s goal of giving more people access to tokens representing actual assets in the real world. Shy Datika:
This expansion is another step forward in our mission to enable the trading of real-world asset tokens. We aim to list additional tokenized RWAs through other strategic partnership regulations. We remain committed to advancing the accessibility and efficiency of the tokenized asset market, pushing the boundaries of global finance.”
