INX, Backed Expand Tokenized Stock Offerings on Polygon

INX and Backed have added new listings on the Polygon blockchain for investors from outside the U.S. to their tokenized stock trade services

The INX platform now has new Tesla, Microsoft, Google, and GameStop listings. One press release that crypto. News from Polygon says that a real-world equivalent backs each digital token on the blockchain.

Tokenized stocks are digital copies of real stocks that live on a blockchain. They let people trade traditional financial assets like they were cryptocurrency.

Tokenized ETFs Are Coming Soon

The S&P 500 ETF will be INX’s first tokenized ETF. It will be released in two weeks, along with the tokenized Apple ETF and BlackRock’s iShares Treasury ETF (bIB01). The release says that these assets, in line with European Union securities rules, let investors outside the U.S. trade popular stocks and ETFs using blockchain technology.

Tokenized assets are backed by real stocks a licensed broker holds. This makes sure that their value is directly linked to the stock market. Because blockchain is used, trades can happen 24 hours a day, seven days a week, instead of just during regular stock market hours. This gives investors more options. It’s also possible to sell these assets in smaller amounts, which makes it easier for people with less money to join.

Shy Datika, CEO of INX, said this move furthers the company’s goal of giving more people access to real-world asset coins.