Alchemy Pay, a leading crypto-to-fiat payment gateway, has partnered with Backed Finance to launch tokenized stocks and exchange-traded funds (ETFs) on its Real World Assets (RWA) platform. This collaboration leverages Backed's xStocks infrastructure to create blockchain-based tokens representing ownership in over 55 U.S.-based stocks and ETFs, including major names like Apple, NVIDIA, Tesla, Meta, and Google.
The partnership aims to democratize access to U.S. equities by enabling users in over 170 countries to invest in tokenized versions of these traditional financial instruments using local fiat currencies directly through Alchemy Pay’s platform. This eliminates geographic, regulatory, and transactional barriers that have historically limited global participation in U.S. markets. The platform is expected to go live in August 2025.
The new system will provide a seamless fiat-to-RWA transaction process, allowing users to acquire tokenized assets without needing to first buy or convert cryptocurrencies. By bridging decentralized finance (DeFi) with traditional finance, Alchemy Pay and Backed seek to increase accessibility, efficiency, portfolio diversification, liquidity, and fiat on-ramp ease for the global investment community.
Despite its promise, challenges remain including regulatory compliance across jurisdictions, custody and security of underlying assets, and market adoption. Nevertheless, the initiative represents a significant step toward broader blockchain acceptance and the integration of traditional investment products into the crypto ecosystem.