Alchemy Pay partners with Backed to launch first direct fiat access to tokenized stocks and ETFs

Alchemy Pay has partnered with Backed to launch tokenized stocks and ETFs on its RWA platform, allowing non-U.S. users in 170+ countries invest in top global equities and ETFs in their local fiat currencies.

Alchemy Pay, the leading fiat-crypto payment gateway, just announced that it has partnered with equity tokenization firm Backed. Through this partnership, Alchemy Pay will integrate Backed’s xStocks into its RWA platform, enabling non-U.S. users to buy tokenized versions of major equities as well as exchange-traded funds using their local fiat currencies.

Backed issues xStocks as permissionless tokens pegged 1:1 to the value of real-world assets they represent. Their offering currently includes over 55 tokenized stocks — including SPY, Apple, NVIDIA, Tesla, Meta, and Google. Their ETF offering includes exchange-traded funds of highly liquid and widely followed market segments, including the S&P 500 (bCSPX) and short-term U.S. Treasury bonds (bIB01).

“Together with Backed, we’re making it possible for regular people to access leading global stocks and ETFs, breaking down the legacy walls that have kept too many people out”, said Ailona Tsik, CMO at Alchemy Pay. 

“This integration marks another significant step toward making xStocks — and the broader xStocks Alliance — the industry standard for on-chain equities,” said Adam Levi, co-founder of Backed.

The xStocks Alliance is a collaboration of crypto exchanges and trading platforms focused on integrating Backed’s xStocks and ETFs. Kraken and the Solana (SOL) Foundation were its early backers. In May, Kraken announced plans to launch xStocks on the Solana blockchain in partnership with Backed and the Foundation.