INX and Backed expand tokenized stock offerings on Polygon

INX and Backed have expanded their tokenized stock trading services by adding new listings on the Polygon blockchain for investors outside the United States.

This expansion includes new listings from Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME) on the INX platform. According to a press release shared with Crypto.news, each Polygon (MATIC) blockchain digital token is backed one-to-one by its real-world counterpart.

Tokenized stocks are digital versions of real-world stocks that exist on a blockchain, allowing users to trade traditional financial assets as if they were cryptocurrencies.

Upcoming tokenized ETFs

In two weeks, INX will launch its first tokenized ETF, the S&P 500 ETF (bCSPX), alongside tokenized Apple (bAAPL) and BlackRock’s iShares Treasury (bIB01) ETFs. Created under European Union securities laws, these assets allow investors outside the U.S. to trade popular stocks and ETFs using blockchain technology, according to the announcement.

Tokenized assets are backed by actual shares held by a licensed custodian, ensuring their value is directly tied to the traditional market. The use of blockchain means that transactions can occur 24/7, as opposed to standard exchange hours, offering greater flexibility to investors. These assets can also be traded in smaller fractions, making it easier for individuals with limited funds to participate.

INX CEO Shy Datika emphasized that this step furthers the company’s mission of providing broader access to real-world asset tokens.

“This expansion is another step forward in our mission to enable the trading of real-world asset tokens. We intend to list additional tokenized RWAs through other strategic partnership arrangements. We are committed to advancing the accessibility and efficiency of the tokenized asset market by pushing the boundaries of global finance.”

Shy Datika