Assetera, a Polygon-powered MiFID-licensed trading venue for blockchain-based securities in Europe, has listed Backed Finance's tokenized assets, offering non-U.S. investors to gain exposure to trackers linked to some of the most sought-after U.S. companies.
The initial launch includes tokenized trackers tied to the Nasdaq-listed Coinbase (COIN), one of the largest crypto exchanges in the world, the chip-maker Nvidia (NVDA), a bellwether for all things artificial intelligence (AI) and risk assets, and the blue-chip index, the S&P 500 (SPX), the company said in the press release shared with CoinDesk on Thursday.
The platform plans to list tokenized Treasury bills, or short-term U.S. government securities with maturities of one year or less, designed for liquidity-focused investors. Futures plans include a potential listing of money market funds, bonds, stablecoins and private-credit tokens.
When trading these tokenized trackers, Assetera's users will receive Backed's bTokens, representing shares in the underlying assets. These bTokens are fully collateralized and issued under an approved European Union prospectus, ensuring transparent and secure 24/7 trading.
These tokens offer significant flexibility, as they can be stored in any wallet and moved beyond traditional market hours and across chains, with the help of Chainlink Cross-Chain Interoperability Protocol.
"This collaboration reflects our commitment to innovation in financial markets and the empowerment of investors globally," Thomas Labenbacher, CEO of Assetera, said, as Adam Levi, co-founder of Backed Finance, said it allows investors to get exposure to traditional financial assets via an onchain and regulated environment.
Asset tokenization is the process of using blockchain technology to convert a traditional asset's value into a digital token, facilitating 24/7 availability, access for all, composability and instant global collateral mobility. A 2022 projection by Boston Consulting Group (BCG) put the value of the tokenized asset market at an astounding $16 trillion in 2030 versus less than $100 billion today.
Regulatory uncertainty and security concerns have long <a href="https://www.coindesk.com/markets/2024/10/17/asian-private-wealth-managers-embrace-crypto-some-foresee-bitcoin-at-100k-by-year-end" target="_blank">hindered</a> the widespread adoption of digital assets, but Assetera is tackling these challenges using rigorous adults to mitigate vulnerabilities.
The company told CoinDesk that it uses AI-powered real-time monitoring systems to detect and address suspicious activity, adding that Backend's robust and scalable infrastructure and expertise in democratizing finance through tokenization solidified the partnership.