Expansion of Tokenized Stock Trading on Polygon Blockchain
INX and Backed have recently expanded their tokenized stock trading services, introducing new listings on the Polygon blockchain specifically for non-U.S. investors. This expansion includes prominent stocks like Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME) being added to the platform. Each digital token on the Polygon blockchain is backed one-to-one by its real-world counterpart, providing users with the opportunity to trade traditional financial assets in a crypto-like manner.
Introduction of Upcoming Tokenized ETFs
In the coming weeks, INX is set to launch its first tokenized ETF, the S&P 500 ETF (bCSPX), in addition to tokenized offerings of Apple (bAAPL) and BlackRock’s iShares Treasury (bIB01) ETF. These assets comply with European Union securities laws and enable non-U.S. investors to engage in the trading of popular stocks and ETFs using blockchain technology. Tokenized assets are secured by real stocks held by licensed custodians, ensuring a direct link to the traditional market. The utilization of blockchain technology allows for round-the-clock trading, offering enhanced flexibility to investors and the ability to trade in smaller fractions, thus increasing accessibility.
INX’s Commitment to Broadening Access to Tokenized Asset Market
INX’s CEO, Shy Datika, underlines the significance of this expansion in furthering the company’s mission of facilitating the trading of real-world asset tokens. Through strategic partnerships and regulatory adherence, INX aims to list additional tokenized real-world assets, advancing the accessibility and efficiency of the tokenized asset market and pushing the boundaries of global finance.
