INX, a pioneer in the security token and tokenized real-world asset (RWA) exchange space, has forged a strategic alliance with Backed, a leading RWA tokenization platform. This collaboration aims to introduce tokenized equities on the INX platform, exclusively for qualified non-US participants, as revealed to Finbold on July 2.
The venture commences with the unveiling of bNVDA, a tokenized security underpinned by the NVIDIA (NASDAQ: NVDA) stock, minted on the Ethereum (ETH) blockchain.
**Heralding a New Epoch of Investment**
This initiative signifies a pivotal step in the democratization of access to conventional financial assets, amalgamating them with the round-the-clock liquidity and reach of digital assets.
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Eligible investors from outside the US are now empowered to trade bNVDA with the same ease as cryptocurrencies, transcending the confines of standard stock market hours, and capitalizing on the ability to fund their accounts with cryptocurrency.
Looking ahead, INX and Backed are set to broaden their offerings to encompass additional assets such as exchange-traded funds (ETFs), bonds, and commodities.
Backed’s bTokens, their tokenized public securities, are designed as permissionless ERC-20 tokens, facilitating unencumbered transfers across wallets.
**Voices from the Helm**
Shy Datika, the visionary CEO of INX, shared his excitement about the partnership with Backed, remarking:
“We are ecstatic to welcome Backed into our fold as a tokenization and issuance ally, and we’re eager to commence the listing of their securities on our exchange. This partnership heralds yet another landmark in our quest to facilitate the trade of tokenized real-world asset tokens. We stand committed to enhancing the tokenized asset market’s accessibility and efficiency, propelling us into a novel era of global finance.”
Adam Levi, the Co-Founder of Backed, commented on the development:
“Crypto traders have long sought an effortless conduit to the traditional marketplace — and tokenized stocks are the answer. bNVDA is merely the start; we foresee a future where investors can curate diversified portfolios of tokenized real-world assets directly on the blockchain, eliminating the need to offramp, while enabling users to self-custody their entire portfolio.”
**A Convergence of Crypto, Fiat, and Security Tokens**
INX’s marketplace now proudly showcases Backed’s bNVDA, achieving a seamless integration of crypto, fiat, and security tokens within a singular platform.
Backed’s tokenized offerings, including bNVDA, are promulgated under an EU prospectus, assuring utmost transparency.
Holders of bNVDA are accorded primary entitlement to the collateral value of the NVIDIA stock, securely held by a licensed custodian through an account control agreement.
