Backed, a tokenization platform, has introduced five new tokenized equities, including stocks from Microsoft (bMSFT), GameStop (bGME), MicroStrategy (bMSTR), Tesla (bTSLA), and Alphabet’s Class A shares (bGOOGL). These tokens are available to eligible non-US investors, providing exposure to S&P 500 companies while maintaining assets on-chain and in custody.

Investors can now purchase tokens representing Microsoft, GameStop, MicroStrategy, Tesla, and Alphabet stocks, enabling 24/7 trading on the blockchain. This concept is akin to spot crypto ETFs, which track the performance of an asset.

Tokenized Stocks

This latest offering adds to Backed’s existing portfolio of tokenized stocks, which includes Backed CSPX Core S&P 500 (bCSPX), Coinbase Global (bCOIN), and NVIDIA (bNVDA).

“Our latest additions, including bMSFT, bGME, bMSTR, bTSLA, and bGOOGL, represent our commitment to bridging traditional finance with blockchain technology,” said Bernardo Quintao, Head of Business Development at Backed. “This is a major step towards democratizing financial markets and empowering investors with greater flexibility and control over their assets.”

Backed’s tokenized equities are fully backed by the corresponding stocks, allowing investors to trade with confidence. The company aims to democratize access to financial markets and advance blockchain innovation, merging traditional finance with digital assets seamlessly.

Beyond equities, Backed also offers tokenized corporate and government bonds, including T-bills. The company’s bIB01 token was recently integrated into the Arbitrum DAO’s treasury.

With these new tokenized stocks, Backed enhances opportunities for developers and builders in decentralized finance (DeFi). The tokens can be used as collateral for loans and other financial products within the DeFi ecosystem, promoting interoperability and self-custody.

Backed envisions eliminating barriers between traditional and digital economies, fostering a global, interconnected financial ecosystem. Stay updated with the latest developments in the world of finance and cryptocurrency on Global Crypto News.

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