INX taps Backed to launch tokenized Tesla, Google and Microsoft shares on Polygon

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INX and Backed are expanding their tokenized share offerings on the INX platform to eligible users outside the US. Following the launch of tokenized Nvidia shares, the companies are adding shares of Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and GameStop (bGME).

Furthermore, INX will launch its first tokenized ETF, the S&P 500 ETF (bCSPX), along with the tokenized Apple ETF (bAAPL) and BlackRock’s iShares Treasury (bIB01) in two weeks.

These assets are created in accordance with EU securities laws and are tokenized on the Polygon Proof of Stake network, backed one-to-one by the corresponding underlying shares.

“We are excited to expand our collaboration with Backed by adding these new tokenized shares to our trading platform. This expansion is another step forward in our mission to enable real-world asset token trading,” said Shy Datika, CEO of INX.

The new listings allow merchants to benefit from 24/7 availability, fractional ownership and blockchain security. Eligible investors can trade these traditional securities outside of standard exchange hours and fund their accounts with crypto.

“The launch of bNVDA was just the beginning. By adding Microsoft, Tesla, S&P 500 ETFs and others, we offer investors an even wider range of tokenized assets to build their portfolios,” added Adam Levi, co-founder of Backed.

Backed highlighted that holders have primary rights to the value of collateral held with a licensed custodian. Blockchain defines ownership, providing improved security and transparency.

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