News
The supported tokens represent five new major technology stocks for 24/7 blockchain trading
Backed, a tokenization platform, has announced the launch of five new tokenized shares.
These offerings include shares of Microsoft (bMSFT), GameStop (bGME), MicroStrategy (bMSTR), Tesla (bTSLA), and Alphabet Class A shares (bGOOGL).
These tokens are available to eligible non-U.S. investors, providing exposure to S&P 500 companies while keeping assets on-chain and in custody.
In other words, investors can now purchase tokens representing Microsoft, Game Store, MicrostrategyTesla and Alphabet stocks, allowing investors to trade stocks 24/7 on the blockchain. Wall Street is also considering adopting 24/7 trading.
This concept is similar to Spot Cryptocurrency ETFs or exchange-traded funds, which are a type of security that tracks the performance of an asset.
Tokenized Actions
This expansion adds to Backed’s list of already 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 the gap between traditional finance and blockchain technology,” said Bernardo Quintao, Head of Business Development at Backed. “This is an important step towards democratizing financial markets and giving investors more flexibility and control over their assets.”
Supported tokenized shares are fully backed by the corresponding shares, allowing investors to trade them with confidence. The company aims to democratize access to financial markets and promote blockchain innovation, enabling a seamless fusion of traditional finance and digital assets.
In addition to stocks, Backed also offers tokenized corporate and government bonds, including T-bills. The company’s bIB01 token was recently integrated into the Arbitrum DAO treasury.
With these new tokenized actions, Backed increases the opportunities for developers and builders in decentralized finance (DeFi). Tokens can be used as collateral for loans and other financial products within the DeFi ecosystem, promoting interoperability and self-custody.
Backed envisions a future where the barriers between traditional and digital economies are eliminated, enabling a global and interconnected financial ecosystem.