INX and Backed expand stock asset opportunities for Non-US citizens
Eligible non-US citizens can now expand their portfolios following the launch of new tokenized stocks by INX and Backed.
INX is a regulated marketplace for trading security tokens and tokenized real-world assets, whereas Backed is a pioneer in real-world asset tokenization.
The tokenized stocks, which will be accessible on the INX platform, include Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and Gamestop (bGME) stocks.
Those who invest in the newly launched tokenized stocks will have a wider array of traditional financial assets to invest in, consequently offering them 24/7 liquidity on the said digital assets. Investors have no set time limit to access their stocks. They can trade traditional securities outside standard stock market hours and finance their accounts with cryptocurrency.
Investors will also have self-custody of their stocks, giving them full control of their assets. Because the tokenized stocks are integrated with decentralized finance (DeFi), investors can use them as collateral for loans.
Investors do not have to worry about the safety of the newly launched tokenized stocks because they will be using blockchain technology, which guarantees security and transparency. The assets are created under EU securities laws and tokenized on the Polygon Proof of Stake (PoS) network to further assure the investors safety.
This groundbreaking initiative, built on Polygon PoS, enables individuals who previously lacked access to basic investment and savings vehicles to finally participate in foundational aspects of the global financial system with Polygon PoS as a scalable, low-cost, and secure foundation, this expansion ensures accessibility for everyone, no matter where they are on their financial journey, Colin Butler, Global Head of Institutional Capital at Polygon Labs said.
With this launch, INX and Backed intend to increase the number of real-world assets (RWAs) available for on-chain trading, as echoed by Shy Dakita, INXs CEO.
This expansion is another step forward in our mission to enable the trading of real-world asset tokens. We aim to list additional tokenized RWA through other strategic partnerships regulations. We remain committed to advancing the accessibility and efficiency of the tokenized asset market, pushing the boundaries of global finance, Shy Datika, CEO of INX said.
Backed, on the other hand, expressed its hope for the expansion of the finance industry following the launch of the tokenized stocks.
By adding Microsoft, Tesla, S&P 500 ETF, and others, we are offering investors an even wider range of tokenized assets to build their portfolios. We believe this is the future of finance, where traditional assets and digital markets converge seamlessly on the blockchain, Adam Levi, Co-Founder of Backed noted.
To access the tokenized stocks, investors need only create an account on the INX platform and complete the necessary verification process. The stocks are available to non-US residents and all approved customers on the INX platform.
Read more: https://zycrypto.com/inx-and-backed-expand-stock-asset-opportunities-for-non-us-citizens/
Text source: ZyCrypto
