Backed tokenizes five new major tech stocks for 24/7 blockchain trading

Backed, a tokenization platform, has announced the launch of five new tokenized equities.

These offerings include 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 keeping assets on-chain and in custody.

In other words, investors can now buy tokens representing Microsoft, GameStop, MicroStrategy, Tesla, and Alphabet stocks, allowing investors to trade stocks 24/7 on the blockchain. Wall Street is also considering embracing 24/7 trading.  

This concept is similar to spot crypto ETFs or exchange-traded funds, which are a type of security that tracks the performance of an asset. 

Tokenized stocks

This expansion adds to Backed’s list of already tokenized stocks, which include 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 them with confidence. The company aims to democratize access to financial markets and advance blockchain innovation, enabling a seamless merge of traditional finance and digital assets.

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 a future where the barriers between traditional and digital economies are eliminated, fostering a global, interconnected financial ecosystem.