INX and Backed Launch On-Chain Tokenized NVIDIA Stock Trading

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As an analyst with a background in traditional finance and blockchain technology, I’m excited about this partnership between INX and Backed, which marks the listing of tokenized stocks on the INX platform for non-US eligible investors. This collaboration represents a significant stride towards democratizing access to traditional financial assets and merging them with the advantages of digital asset trading.

Toronto in Canada and Zug, Switzerland: July 2, 2024 – INX, a regulated marketplace for trading security tokens and tokenized real-world assets, along with Backed, a trailblazer in real-world asset tokenization, have jointly announced the availability of tokenized stocks on INX’s platform for non-US investors beginning July 2, 2024. This innovative collaboration debuts with the listing of bNVDA, a security token representing NVIDIA Corporation (NVDA) stock, available on the Ethereum network, allowing blockchain technology to record ownership.

The Future of Investing

As a crypto investor, I’m thrilled about this monumental step towards making it easier for non-US investors to access traditional financial assets through the 24/7 liquidity and accessibility of the digital asset space with INX. This means that I can trade bNVDA just like cryptocurrencies, even outside of regular stock market hours, and fund my account using crypto. The self-custodial securities also open up new possibilities for traders, and this is just the beginning. More assets, such as ETFs, bonds, or even commodities, are expected to join INX in the future. The tokens representing these securities are called bTokens, which are permissionless ERC-20 tokens that can be easily transferred between wallets.

“We’re delighted to announce that Back has joined forces with us as a partner for tokenization and issuance. We look forward to launching their securities on our platform,” Shy Datika, INX CEO, shared. “This collaboration marks an important step in our mission to facilitate the trading of real-world assets as tokens. Our dedication lies in making this process more accessible and streamlined for all, paving the way for a revolutionary era in global finance.”

Adam Levi, a Backed co-founder, stated, “Cryptocurrency investors have long yearned for a smooth transition to the conventional market. Tokenized stocks serve as that connection. The introduction of bNVDA is merely the commencement; our vision encompasses a future in which investors can construct diversified portfolios consisting of tokenized real-world assets directly on the blockchain. Eliminating the need for deplatforming and granting users the power to self-custody their entire investment.”

INX offers a platform where you can buy and sell tokenized assets, and through their collaboration with Backed, the first tokenized stock, bNVDA, is now accessible on INX. This allows traders to deal with bNVDA using crypto, fiat, and security tokens in a single marketplace. The advantages include around-the-clock trading opportunities, as well as the ability to purchase fractional shares.

As an analyst, I would explain it this way: I hold tokens representing assets like bNVDA on the Backed platform, which are issued under an EU prospectus for transparency. The underlying collateral, such as Nvidia stock, is securely held by a licensed custodian through an account control agreement. The distributed ledger technology (specifically, blockchains) serves as the basis for defining ownership of these tokens.

Recently, Republic has reinforced its dedication towards forging a robust alliance with INX. At the same time, Backed has successfully concluded their Series A funding. This dynamic development in the tokenized securities sector is generating significant buzz. Partnerships such as these are paving the way for true interoperability and composability, making the realization of a seamless digital asset ecosystem increasingly feasible.

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

As a crypto investor eager to trade bNVDA, I would first need to sign up for an account on the INX platform. Subsequently, I should complete the necessary verification procedures to ensure eligibility for trading this digital asset.

About INX

INX offers regulated trading platforms for both digital securities and cryptocurrencies. By merging traditional financial market knowledge with innovative fintech methods, INX delivers advanced solutions to current financial challenges. The company is spearheaded by a highly experienced team of business, finance, and technology professionals, all committed to revolutionizing capital markets through the power of blockchain technology and a rigorous regulatory framework.

In a world where anything can be represented as a digital token on a blockchain network, INX offers a trailblazing, regulated platform for buying and selling these security tokens. Our team, comprised of seasoned professionals from business, finance, and technology sectors, is committed to shaping the future of capital markets through innovative use of blockchain technology and strict regulatory adherence.

LinkedIn: https://www.linkedin.com/company/theinxdigitalcompany/

Website: https://www.inx.co/ 

About Backed

Through Backed, real-world assets make their way onto the blockchain. By utilizing this platform, permissionless tokens representing the value of tangible assets like stocks or ETFs are issued, with these tokens being fully supported by their underlying assets. The tokens are released under an approved EU prospectus. Backed caters to institutional clients, serving as a connection between traditional finance (TradFi) and decentralized finance (DeFi).

An ERC-20 token representing the Backed Assets class, denoted by the ticker symbol bNVDA, follows the value of NVIDIA Corporation’s stock prices.

As a researcher examining Backed’s offerings, I’d like to clarify that their tracker products (bTokens) aren’t available for purchase, use, or transfer within the United States or on behalf of U.S. persons. For a comprehensive list of restricted countries and to access legal documentation, kindly visit .

LinkedIn: https://www.linkedin.com/company/backed-finance/ 

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Website: https://backed.fi/

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2024-07-02 15:12