As a seasoned researcher with a keen interest in the intersection of traditional finance and blockchain technology, I find this latest development by INX Digital Company Inc truly intriguing. Having closely followed the evolution of tokenized assets, it’s exciting to see established players like Microsoft, Tesla, and others joining the fray.
INX Digital Corporation, a secure platform for buying and selling digital tokens representing real-world assets and securities, revealed the addition of more tokenized stock listings to their system. To make this happen, INX is collaborating with Backed, an industry leader in converting real-world assets into digital tokens.
Following the successful debut of tokenized Nvidia shares, these two entities have announced their intention to list tokenized versions of Microsoft (Microsoft Token), Tesla (Tesla Token), Gamestop (Gamestop Token), and Google (Google Token) stocks in the coming days. In the ensuing month, Apple (Apple Token) will be added, as well as tokenized representations of the S&P 500 (S&P 500 Token) and BlackRock’s iShares Treasury ETF (iShares Treasury Token).
INX and Backed have converted these trading stocks into digital tokens, with each token being equivalent to a single underlying stock share. These tokenized stocks are operated on the Polygon Proof of Stake (PoS) network. Moreover, the trading of these tokenized stocks adheres to EU securities regulations.
This development signifies a significant advancement in making it simpler for people to invest in conventional financial resources, as it combines them with the continuous liquidity and accessibility offered by digital assets. In addition, non-US investors who meet certain eligibility criteria can now invest in a variety of traditional securities beyond standard trading hours, with the flexibility to deposit funds using cryptocurrencies.
In addition, self-held securities offer traders enhanced flexibility and portfolio optimization. To bridge the gap between conventional and digital finance, INX is expanding the selection of real-world assets (RWAs) that can be traded on a blockchain platform. On this advancement, Shy Datika, CEO of INX commented:
As a researcher immersed in this exciting field, I’m thrilled to announce our expanded collaboration with Backed, incorporating these novel tokenized stocks onto our trading platform. This development is yet another milestone on our journey to democratize the trading of real-world asset tokens. Our sights are set on listing more tokenized Real-World Assets (RWAs) through strategic partnerships. We remain steadfast in our quest to enhance the accessibility and streamline the efficiency of the tokenized asset market, pushing the limits of global finance.
INX and Tokenized Assets Market
In other words, INX offers a platform where you can buy tokenized assets, and through its collaboration with Backed, it now adds tokenized shares to that platform. This new addition grants traders the convenience of 24-hour trading, the flexibility of fractional ownership, and the assurance of blockchain’s robust security features.
Under the auspices of an EU prospectus, the tokenized assets offered by Backed provide complete transparency for qualified investors. Additionally, those who possess the bTokens will have direct access to the collateral’s worth, which is safeguarded with a licensed custodian under a control agreement.
As an analyst, I’d highlight that this service empowers me, the investor, by providing self-custody, ensuring I have direct possession of my securities in digital wallets, maintaining full control over them. This platform also offers round-the-clock trading opportunities, enabling transactions even outside conventional market hours, thereby increasing flexibility for me. Moreover, it seamlessly integrates with Decentralized Finance (DeFi), allowing me to leverage tokenized stocks as collateral for loans and explore various DeFi applications.
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2024-09-23 17:57