What to know:
- MiFID-licensed trading venue Assetera has listed Backed Finance’s tokenized trackers for Nvidia, Coinbase and the S&P 500.
- The company has plans to include T-bills, money market funds and other instruments in future.
As a seasoned researcher with a keen interest in the intersection of traditional finance and blockchain technology, I find the recent collaboration between Assetera and Backed Finance to be a promising development in the burgeoning world of tokenized assets.
Assetera, a European trading platform powered by Polygon and licensed under MiFID, has added Backed Finance’s tokenized assets to its listings. This move allows non-U.S. investors an opportunity to invest in trackers tied to popular U.S. corporations.
In my analysis, I’ve designed an initial portfolio setup that incorporates a few key elements. Firstly, I’m tying tokenized trackers to Coinbase (COIN), one of the leading global crypto exchanges. Secondly, I’ve included Nvidia (NVDA), which serves as a significant indicator for artificial intelligence (AI) and risk-related sectors. Lastly, I’ve added the S&P 500 (SPX), the blue-chip index, to provide a broader perspective on the market as a whole. These details were disclosed in a press release I received from them earlier this week.
The system intends to offer tokenized versions of Treasury bills (short-term U.S. government debt with maturities under one year), catering to those who prioritize liquidity. Additionally, they may consider listing other financial instruments such as money market funds, bonds, stablecoins, and private credit tokens in the futures market.
With Assetera’s tokenized trackers, users will acquire Backed’s bTokens, which stand for shares in the underlying assets. These bTokens are backed by real assets and have been released under a valid EU prospectus, providing a transparent and secure trading experience around the clock.
As a data analyst, I find these tokens highly versatile, enabling me to store them in various digital wallets and facilitate transactions even outside conventional market hours, and across different blockchain networks, courtesy of Chainlink’s Cross-Chain Interoperability Protocol.
In his statement, Thomas Labenbacher, the CEO of Assetera, emphasized that this partnership underscores our dedication towards pioneering advancements in the financial sector and fostering investor influence on a global scale. Meanwhile, Adam Levi, co-founder of Backed Finance, highlighted that this collaboration offers investors an opportunity to access conventional financial assets within a secure, digital, and regulated ecosystem.
Transforming conventional assets into digitally representable units through blockchain technology is known as asset tokenization. This process offers benefits such as round-the-clock accessibility, universal participation, composability, and seamless global transfer of collateral in an instant. According to a forecast by Boston Consulting Group (BCG) in 2022, the market value of tokenized assets could soar to an incredible $16 trillion by 2030, in contrast to its current worth of under $100 billion.
Despite regulatory uncertainties and security concerns being obstacles for broad digital asset adoption, Assetera addresses these issues effectively by employing robust measures to minimize potential weaknesses.
The firm shared with CoinDesk that they employ advanced AI systems for continuous, real-time monitoring of potentially fraudulent actions, reinforcing their partnership by highlighting Backend’s resilient and expandable framework, coupled with its proficiency in making finance more accessible via tokenization.
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2024-12-12 12:20