Backed tokenizes five new major tech stocks for 24/7 blockchain trading

Tokenization platform Backed has announced the launch of five new tokenized stocks.

These offerings include Microsoft (bMSFT), GameStop (bGME), MicroStrategy (bMSTR), Tesla (bTSLA), and Class A shares of Alphabet (bGOOGL).

These tokens are available to eligible non-US investors and provide exposure to S&P 500 companies while holding assets on-chain and in custody.

In other words, investors can now buy tokens representing shares of Microsoft, GameStop, MicroStrategy, Tesla, and Alphabet, allowing investors to trade stocks on the blockchain 24/7. Wall Street is also considering embracing 24/7 trading.

The concept is similar to spot crypto ETFs or exchange-traded funds, a type of security that tracks the performance of an asset.

Tokenized stocks

This expansion adds Backed CSPX Core S&P 500 (bCSPX), Coinbase Global (bCOIN), and NVIDIA (bNVDA) to Backed’s list of already tokenized stocks.

“Our latest additions, including bMSFT, bGME, bMSTR, bTSLA, and bGOOGL, represent our commitment to combining traditional finance with blockchain technology,” said Bernardo Quintao, Head of Business Development at Backed. “This is an important step towards democratizing financial markets and giving investors more flexibility and control over their assets.”

Backed’s tokenized shares are fully backed by the underlying stocks, allowing investors to trade with confidence. The company aims to democratize access to financial markets and advance blockchain innovation, enabling the seamless convergence of traditional finance and digital assets.

Beyond stocks, Backed also offers tokenized corporate and government bonds, including T-bills. The company’s bIB01 token was recently integrated into the treasury of the Arbitrum DAO.

With these new tokenized shares, Backed is expanding opportunities for developers and builders in the decentralized finance (DeFi) space. The tokens can be used as collateral for loans and other financial products within the DeFi ecosystem, encouraging interoperability and self-custody.

Backed envisions a future where barriers between traditional and digital economies are broken down, supporting a global, interconnected financial ecosystem.