INX and Backed Launch OnChain NVIDIA Stock
INX, a marketplace for security tokens and tokenized real-world assets (RWA), has partnered with Backed, a platform specializing in RWA tokenization. This collaboration aims to list tokenized stocks on the INX platform for eligible non-US users, as reported to Finbold on July 2nd.
The alliance commences with the introduction of bNVDA, a tokenized security backed by NVIDIA (NASDAQ: NVDA) stock issued on the Ethereum (ETH) network.
Escalating access to conventional financial assets, the launch signifies a pivotal moment by merging these assets with the round-the-clock liquidity and accessibility of digital counterparts.
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Non-US eligible investors can now trade bNVDA as effortlessly as cryptocurrencies, extending beyond traditional stock market hours, and fund their accounts with crypto.
Future plans involve expanding the INX repertoire to include assets such as exchange-traded funds (ETFs), bonds, and commodities.
Backed’s tokenized public securities, known as bTokens, are ERC-20 tokens enabling unrestricted transfers between wallets.
Shy Datika, CEO of INX, expressed enthusiasm about the partnership with Backed, stating:
“We are delighted to partner with Backed as one of our tokenization and issuance collaborators. We eagerly anticipate listing their securities on our marketplace. This partnership marks another significant step in our mission to facilitate the trading of tokenized real-world assets. Our commitment remains steadfast in advancing accessibility and efficiency in the tokenized asset market, heralding a new era in global finance.”
Adam Levi, Co-Founder of Backed, added:
“Crypto traders have long sought a seamless connection to traditional markets, and tokenized stocks provide precisely that bridge. bNVDA is just the beginning; our vision extends to a future where investors can construct diversified portfolios of tokenized real-world assets directly on the blockchain. With no need to off-ramp, users can self-custody their entire portfolio.”
Unifying Crypto, Fiat, and Security Tokens
INX’s marketplace now showcases Backed’s bNVDA, unifying crypto, fiat, and security tokens on a single platform.
Backed’s tokenized assets, including bNVDA, comply with an EU prospectus, ensuring complete transparency.
bNVDA holders possess primary claims to the collateral value of NVIDIA stock, safeguarded by a licensed custodian under an account control agreement.
