Alchemy Pay – a leading cryptocurrency payment platform – has just announced a strategic partnership with Backed, a platform specializing in real-world asset tokenization (Real World Assets – RWA). Through this collaboration, both parties will launch the xStocks product on Alchemy Pay's RWA investment platform, providing access to 55 tokenized assets from famous US stocks and ETF funds, including codes such as Apple (AAPL), Tesla (TSLA), Google (GOOGL), and SPY – an ETF tracking the S&P 500 index.
Notably, this new product will create the world's first RWA investment channel that allows users to trade directly with fiat currency, without the need to hold cryptocurrencies or go through intermediary brokers. This is seen as a major breakthrough in reducing barriers to accessing traditional financial markets for global users, especially those new to the digital asset field.
Alchemy Pay stated that in the future, the platform will continue to expand more tokenized RWA assets and establish partnerships with entities inside and outside the blockchain industry, aiming to accelerate the application of traditional finance into Web3 and create a more diverse investment ecosystem for users worldwide.
