Welcome to this bi-weekly newsletter! We missed last week as we were fully focused on the exciting launch of bNvidia — all the details await you below
Last week, the crypto market grappled with heightened uncertainty fueled by Germany’s ongoing Bitcoin sale and the imminent Mt. Gox payout of nearly $9 billion. These events led Bitcoin to slide to $59,000, marking its second-largest weekly decline of the year, amid anticipated sell-offs and increased market volatility. This week, Bitcoin struggled to maintain levels above $65,000, briefly dipping below $64,000 during Wednesday’s trading session amidst broader equity market sell-offs. Analysts noted potential headwinds for the crypto rally as traditional markets corrected, though cryptocurrencies may still serve as a safe haven amidst ongoing political uncertainties, including speculation surrounding President Biden’s election outlook, currently at 68% according to crypto prediction markets. These factors continue to shape market dynamics and investor sentiment.
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RWA tokenization has emerged as the dominant trend in the crypto space in 2024, marking a pivotal shift in traditional finance. Spearheaded by industry giants like BlackRock with their tokenized US Treasuries product BUIDL, this trend has garnered widespread attention and media spotlight. The market has seen impressive growth, evidenced by assets like Ondo Finance’s ONDO and Mantra Chain’s OM tokens surpassing $1 billion in market cap, highlighting their robust performance amid broader market fluctuations. This surge in interest is bolstered by regulatory advancements and institutional confidence, with assets under management (AUM) for tokenized government securities surpassing $1.6 billion by mid-2024. As financial institutions like Goldman Sachs plan their own tokenization initiatives and DAOs diversify into tokenized assets, RWA tokenization is poised to redefine financial markets by offering liquidity, transparency, and accessibility previously unseen in traditional finance. Meanwhile, INX provides a platform where these tokenized assets can be traded, offering investors a gateway to participate in this transformative trend.
INX is thrilled to announce the launch of bNVDA, a pioneering tokenized security backed by NVIDIA Corp shares, now available on the Ethereum network. This innovative offering marks a significant milestone in democratizing access to traditional financial markets, merging the security and familiarity of NVIDIA stock with the efficiency and accessibility of blockchain technology. Non-US investors, including those in major Asian markets, can now trade bNVDA seamlessly, benefiting from 24/7 market availability and the flexibility of fractional ownership.
Don’t forget to review the list of primary and secondary security tokens offered on our platform, each representing a different industry and a unique opportunity.
We are pleased to announce that our trading platform is now welcoming new local traders from Nigeria, Slovenia, Cyprus, Croatia, and the British Isle of Jersey. This expansion opens up exciting opportunities for traders residing in these regions. Alongside this, we have introduced a significant update: The ACH funding feature. Until now, transactions were limited to wire transfers, but with this release, we have implemented Automated Clearing House (ACH) transfers that allow electronic, bank-to-bank money transfers, providing a convenient and cost-effective way to move funds between accounts. This enhancement means that you can now conduct transactions more efficiently, with the added flexibility of ACH transfers.
This week, INX and Backed reconnected on a Twitter Space with Wolf on Tuesday at 1 PM EST. The insightful conversation featured Backed’s David Henderson and INX’s VP of Capital Markets, Bob Ejodame, who delved into tokenization, crypto, and the exciting launch of the first tokenized NVDA – bNVDA. The event shed light on the future of digital finance and the innovative strides being made in the tokenization of real-world assets. If you missed it, be sure to catch the replay to stay informed about the evolving landscape of blockchain and cryptocurrency.
INX Academy offers multiple articles and guides to help you better understand this evolving market and the wealth of opportunities it has to offer.
Here are a few recommended guides the academy has prepared for you:
Following our exciting announcement about the launch of bNVDA, the first tokenized NVIDIA share available on our platform, we hosted an exclusive AMA with INX leaders. In this session, we delved into the details of tokenized Real World Assets (RWAs) and the groundbreaking implications of tokenizing shares. Our experts provided deep insights into how bNVDA represents a significant milestone in democratizing access to traditional financial markets. If you missed this exclusive AMA, don’t worry! We’ve got you covered. For a full recap of the discussion and to understand more about this innovative launch, click below.
As always, we are indebted to the INX community, our invaluable partners who accompany us on this path toward a new digital economy.
The INX Digital Company inc. is an expert in the field of finance, crypto and digital securities.
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