‘INX’ and ‘Backed’ Announce New Token Listings on Polygon

INX marketplace and ‘Backed Finance’ announced the listing of additional tokenized stocks including Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and Gamestop (bGME) stocks on the INX platform for eligible ‘non-US’ users, thereby expanding their on-chain tokenized stock trading. Non-US eligible investors will have the ability to trade a variety of traditional securities, outside of standard stock market hours, with the option to fund their accounts with cryptocurrency. 

Following the successful launch of tokenized Nvidia, both INX and Backed are now expanding their offerings with listing of several tokenized stocks for non U.S. users. These assets, created under EU securities laws and tokenized on the Polygon Proof of Stake (PoS) network, are backed one-to-one by their corresponding underlying stocks, with the blockchain ledger conveying ownership.

“We are excited to broaden our collaboration with Backed by adding these new tokenized stocks to our trading platform,” said Shy Datika, CEO of INX. “This expansion is another step forward in our mission to enable the trading of real-world asset tokens.”

Additionally, the INX will launch its first-ever tokenized ETF, the S&P 500 ETF (bCSPX), alongside tokenized Apple (bAAPL) and BlackRock’s iShares Treasury (bIB01) ETF.  The launch will open a new range of financial assets to be digitized, granting an opportunity for non-US users to trade a broader spectrum of traditional financial products on-chain. For the launch, eligible investors will have the ability to trade a variety of traditional securities outside standard stock market hours and fund their accounts with cryptocurrency.

Colin Butler, Global Head of Institutional Capital  at Polygon Labs, added, “At the core of public, open-source blockchains is the democratization of financial assets. This groundbreaking initiative, built on Polygon PoS, enables individuals who previously lacked access to basic investment and savings vehicles to finally participate in foundational aspects of the global financial system.”

This expansion marks another significant milestone in democratizing access to traditional financial assets and merging them with the 24/7 liquidity and accessibility of the digital asset space.