Backed Expands Portfolio with 5 New Tokenized Equities: Microstrategy, Gamestop, and Others
Backed, a real-world asset (RWA) tokenization firm, has introduced five new tokenized equities: bMSFT (Microsoft), bGME (Gamestop), bMSTR (Microstrategy), bTSLA (Tesla), and bGOOGL (Alphabet Class A).
These tokens, fully backed by their respective stocks, enable non-U.S. investors to trade around the clock on blockchain platforms. Backed’s initiative merges traditional finance with blockchain technology, promoting accessibility and flexibility in financial markets. According to Bernardo Quintao, head of business development at Backed, this move aims to democratize financial markets and empower investors with greater control over their assets.
Additionally, Backed offers tokenized corporate and government bonds, like T-bills, and recently, the Arbitrum DAO selected Backed’s bIB01 token for treasury diversification.
Clever Robot News Desk 17th July 2024