The Good Tech Companies - Tokenized NVIDIA Shares Hit Digital Market Through INX-Backed Partnership

Episode Date: July 2, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/tokenized-nvidia-shares-hit-digital-market-through-inx-backed-partnership. INX and Backed launch tokenized NVIDIA stock (bNVDA) trading, bridging traditional and digital assets. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #tokenized-nvidia-stock, #tokenized-nvidia-shares, #bnvda-digital-token, #stock-tokenization, #bnvda-inx-platform, #tokenized-nvidia-stock-inx, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. INX and Backed launch tokenized NVIDIA stock (bNVDA) trading, bridging traditional and digital assets. Non-US investors can now trade 24/7 with crypto funding on INX platform.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Tokenized NVIDIA shares hit digital market through INX-backed partnership. By Ashan Pandey. A new chapter in digital asset trading unfolds today as INX and backed joint forces to offer tokenized stocks on the INX platform. The collaboration introduces Bionavda, a digital token representing NVIDIA Corporation shares, marking the first instance of traditional stock tokenization available for trade on INX's regulated marketplace. This initiative, announced simultaneously from INX's Toronto headquarters and back its

base in Zug, Switzerland, aims to bridge the gap between conventional financial markets and the burgeoning world of digital assets. Starting today, eligible investors outside the United States can trade Bionavda tokens, each backed by one share of Nvidia stock. Warning editors note. Even though Bionavda is backed one-to-one by Nvidia stock, it is not officially affiliated with the chipmaker. Hashtag D-Y-O-R, new trading option for global investors. The Bionavda token, issued on the Ethereum network, represents ownership of Nvidia stock on a one-to-one basis. This development allows eligible investors to trade Bionavda outside traditional stock

market hours and fund their accounts with cryptocurrencies. Backed tokenized assets, including Bionavda, are issued under an EU prospectus. The underlying NVIDIA stock is held with a licensed custodian under an account control agreement, with blockchain serving as the primary method of defining ownership. Shai Datica, CEO of INX, commented on the partnership. This represents another step in our journey to enable the trading of real-world asset tokens. We are focused on advancing the accessibility and efficiency of real-world asset tokens. We are focused on advancing the accessibility and efficiency of the tokenized asset market. Adam Levi, backed co-founder, shared his vision for the future. We see a future where investors can build diversified portfolios

of tokenized real-world assets directly on the blockchain. No need to off-ramp, and users can self-custody their entire portfolio. The introduction of tokenized stocks could potentially affect market dynamics, given the 24-7 trading capability. It may also open up new possibilities for integrating traditional financial assets with decentralized finance applications. Looking ahead While Bienavda is the first offering, both companies have indicated plans for expansion. Future tokenized assets could include ETFs, bonds, and commodities, according to INX. The success of this venture will likely depend on factors such as user adoption,

regulatory developments, and the stability of the underlying technology. As the financial sector continues to evolve, the tokenization of stocks represents a notable development in the intersection of traditional finance and blockchain technology. Investors interested in trading Bionavda can create an account on the INX platform and complete the required verification process. The offering is currently available to non-US qualified investors across multiple jurisdictions. Tip-vested interest disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author.

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