Zug, Switzerland, July 2nd, 2024, Chainwire
INX, the regulated marketplace for trading security tokens and tokenized real-world assets, and Backed, a pioneer in real-world asset tokenization, today announced the listing of tokenized stock on the INX platform for eligible non-US users. This groundbreaking partnership begins with the launch of bNVDA, a tokenized security backed one-to-one by NVIDIA Corp (NVDA) stock, issued on the Ethereum network, with the blockchain ledger conveying ownership.
The Future of Investing
This launch is a monumental step towards democratizing access to traditional financial assets and merging them with the 24/7 liquidity and accessibility of the digital asset space. Non-US eligible investors will be able to trade bNVDA with the ease and speed of cryptocurrencies, outside of traditional stock market hours, and with the ability to fund their account with crypto. Self-custodial securities open up new possibilities for traders. This is only the start, with more assets coming in the pipeline, such as ETFs, Bonds, or even commodities arriving on INX in the future. Backed’s tokenized public securities are called bTokens, which are permissionless ERC-20 tokens that can be transferred between wallets freely.
“We are thrilled to have Backed as one of our tokenization and issuance partners, and we’re excited to initiate the listing of their securities in our marketplace.” said Shy Datika, CEO of INX. “This partnership represents another milestone in our journey to enable the trading of real-world assets tokens. We are committed to advancing the accessibility and efficiency of the tokenized asset market, ushering in a new era of global finance.”
Adam Levi, Backed Co-Founder, added, “Crypto traders have been seeking a seamless bridge to the traditional market – and tokenized stocks provide exactly that. bNVDA is just the beginning; we envision a future where investors can build diversified portfolios of tokenized real-world assets directly on the blockchain. No need to offramp, and users can self custody their entire portfolio.”
INX provides a marketplace for tokenized assets and their partnership with Backed brings the first tokenized share to this market. This means that Backed’s bNVDA can now be traded on INX, which integrates crypto, fiat, and security tokens into a unified marketplace. Traders can now benefit from 24/7 availability to trade bNVDA, and fractional share ownership.
Backed’s tokenized assets, including bNVDA, are issued under an EU prospectus, allowing eligible investors to have full transparency of the products. Holders of bNVDA have the primary claim to the collateral value, in this case, Nvidia stock, which is held with a licensed custodian under an account control agreement. Distributed ledgers (blockchains) are the primary way that ownership is defined.
With Republic recently reaffirming its commitment to form a strong partnership with INX, and Backed completing their Series A funding round, the ecosystem for tokenized securities is becoming increasingly exciting. With partnerships like this, true interoperability and composability is becoming a reality.
Key Benefits:
● Self-Custody: Hold the securities directly in a wallet that only you have control over.
● 24/7 Trading: Trade anytime, anywhere, not limited by traditional market hours.
● DeFi ready: Use your tokenized stocks as collateral for loans or within other DeFi applications.
● Blockchain Security: Leverage the inherent security and transparency of blockchain technology.
● Access: Available to non-US qualified investors across multiple jurisdictions.
● All On-chain: Fund your account with crypto and invest in tokenized stocks.
How to Get Started
Right now, to trade bNVDA, investors need to create an account on the INX platform and complete the required verification process.
About INX
INX provides regulated trading platforms for digital securities and cryptocurrencies. With the combination of traditional markets expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and a disciplined regulatory approach
In a world where anything can be tokenized on a blockchain network, INX provides an innovative, regulated marketplace for trading these security tokens, accommodating both fiat and cryptocurrencies. Led by an experienced and dedicated team of business, finance, and technology veterans, INX shares a vision to redefine capital markets through blockchain technology and a disciplined regulatory approach.
LinkedIn: https://www.linkedin.com/company/theinxdigitalcompany/
X / Twitter: https://x.com/INX_Group
Website: https://www.inx.co/
About Backed
Backed brings real-world assets on-chain. Backed issues permissionless tokens that track the value of real-world assets and are fully collateralized by them, such as stocks or ETFs. Tokens are issued under an approved EU prospectus. Backed offers tokenization services to institutional clients, bridging the gap between TradFi and DeFi.
The Backed Assets (JE) bNVDA (ticker symbol: bNVDA) is a tracker certificate issued as an ERC-20 token, which tracks the price of the NVIDIA Corp.
Backed’s tracker products (bTokens) are not offered, sold, or delivered within the United States, or for the account or benefit of U.S. Persons. For a full list of prohibited and restricted countries, and to review legal documentation, please visit https://www.assets.backed.fi/legal-documentation
LinkedIn: https://www.linkedin.com/company/backed-finance/
X / Twitter: https://twitter.com/backedfi
Website: https://backed.fi/
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