TL;DR
- INX and Backed expand their tokenized stock offering on the Polygon blockchain for non-US investors.
- Tokenized assets include companies like Tesla, Microsoft, and GameStop, backed 1:1 by real stock.
- New options, such as an S&P 500 ETF and Apple stock, will be added in the coming weeks.
INX, a security token and real-world asset platform, has taken a major step by expanding its tokenized stock offerings in collaboration with Backed, a tokenized asset company.
This expansion is aimed at non-US investors, allowing them to trade tokenized versions of major stocks such as Tesla, Microsoft, Google and GameStop.
INX and Backed Expand On-Chain Tokenized Stock Trading with New Listings on Polygon https://t.co/yc82AIRSg8 via @FT
— INX (@INX_Group) September 24, 2024
These tokenized shares are backed 1:1 by their equivalents in traditional markets, and their creation has been regulated under the securities laws of the European Union.
This development reflects a growing trend towards the digitalization of financial assets, where companies seek to integrate the world of traditional finance with the emerging cryptocurrency space.
In this case, the tokenized shares have been built on the Polygon blockchain, a network known for its scalability and low transaction costs.
With this infrastructure, investors have the possibility to trade these assets 24 hours a day, overcoming the limitations of traditional stock market hours.
Additionally, INX has announced that in the coming weeks it will further expand its offerings with the inclusion of new tokenized assets, such as the S&P 500 ETF and Apple stock.
Users of the platform can also fund their accounts using cryptocurrency, adding an additional layer of flexibility and convenience.
Shy Datika, CEO of INX, highlighted that this expansion is a crucial step towards the company’s goal of making the tokenization of real-world assets more accessible to global investors.
The tokenization process offers several benefits, including the ability to acquire fractional ownership of shares, which facilitates the diversification of investment portfolios.
In addition, assets issued under EU regulations have licensed custodians that guarantee the security of investments, while investors have full control of their assets through self-custody, allowing them to keep them in their own digital wallets.
The future of asset tokenization with INX
Adam Levi, co-founder of Backed, stressed that the expansion of tokenized asset offerings is just the beginning of what is expected to be a fundamental transformation in the world of finance.
Over time, traditional and digital markets will seamlessly converge on the blockchain, allowing investors access to a much wider range of assets anytime, anywhere.
On the other hand, Colin Butler, Global Head of Institutional Capital at Polygon Labs, emphasized the importance of democratizing financial assets through blockchain.
Thanks to Polygon‘s technology, it is now possible for people who previously did not have access to traditional investment vehicles to participate in the global financial system.
The integration of tokenized assets on platforms like INX and Backed is paving the way for a change in the way securities are traded.
Ease of access, enhanced security and fractional ownership possibilities are some of the key aspects that make this model attractive to both retail and institutional investors.
With the expansion of investment options and the implementation of new strategies, the tokenized asset market is expected to continue to grow and redefine global finance.
