What if stocks were tradeable 24/7 onchain with access to the full power of DeFi? This week’s highlight on Fluidkey, @BackedFi, are making this a reality with tokenized stocks More below!

Stock markets close overnight and on weekends: with tokenized stocks assets can be traded all year round Tokenization also unlocks DeFi composability: think borrowing USDC against your stocks or earning yield on your stocks by lending them

Backed has recently seen strong growth with its xStocks product on Solana, letting users access over 50 different tokenized stocks These stocks can then be used across DeFi, like lending markets on @kamino Across EVM chains liquidity is still relatively low

Backed’s approach to tokenization is to create a wrapper that is the digital representation of a stock held with a custodian This means that each token is collateralized 1:1 by shares but doesn’t give holders the exact same rights as shareholders

Only KYC’d investors can mint and redeem tokenized stocks on the Backed platform These tokens can then be used freely across DeFi platforms like DEXs, enabling access to a large user base and use cases

We’re excited to see real world assets come onchain thanks to the work of teams like Backed See you next week!