Backed Finance Chooses Switzerland for Tokenized Stocks
- Switzerland allows Backed Finance to issue tokenized stocks without a whitelist.
- xStocks have approximately 30,300 unique holders as of the latest count.
- Tesla’s tokenized shares are the most popular, with a supply of around $18 million in value.
- Backed Finance registered in Switzerland due to its innovation-friendly legal framework.
Backed Finance opted for Switzerland to issue xStocks without the constraints of a whitelist, allowing free transferability of tokenized stocks like Tesla and Nvidia. This decision aligns with their goal for a permissionless approach to increase adoption.
With roughly $18 million tied up in Tesla tokens and over 30,000 unique holders, Backed Finance’s strategy highlights the demand for accessible financial products outside traditional markets. (Source)
