Alchemy Pay Launches 55 Tokenized U.S. ETFs and Stocks on RWA Platform

Alchemy Pay, a leading fiat-crypto payment gateway, has announced a significant collaboration with Backed to tokenize exchange-traded funds (ETFs) and stocks, launching them on its real-world asset (RWA) platform. The initiative, which went live on June 12, 2025, features 55 tokenized U.S. ETFs and stocks, including prominent assets such as Apple, Tesla, NVIDIA, and SPDR S&P 500 ETF Trust. This partnership aims to bridge the gap between decentralized finance (DeFi) and traditional financial markets, offering users the ability to invest in familiar assets directly through the blockchain.

The integration of Backed's xStocks infrastructure into Alchemy Pay's platform allows international clients, excluding those in the U.S., to purchase tokenized assets using their local fiat currencies. This move is particularly impactful for regions with low access to U.S. financial markets, providing an effective fiat-to-RWA transaction platform. The platform supports over 170 countries, 50 fiat currencies, and more than 300 payment channels, including mobile apps, bank cards, and local payment services. xStocks are decentralized, permissionless tokens that are transparent, trustworthy, and backed by underlying securities, with 24/7 on-chain liquidity.

This initiative enables users across over 170 countries to invest in tokenized stocks via the Alchemy Pay platform. The fractional ownership reduces the barrier to investment, permitting smaller retail investments. The platform provides 24/7 on-chain liquidity, allowing users to trade smoothly even outside the usual market hours. A prototype is already accessible through a special portal, with plans to introduce the full version in August 2025. According to Ailona Tsik, chief marketing officer of Alchemy Pay, the project is monumental as it “annihilates the walls of financial exclusion” and “opens the world markets to the mainstream investors.”

Alchemy Pay supports xStocks on the Solana blockchain, aligning with Kraken’s future RWA platform. The company plans to enable additional blockchains, such as Ethereum and Polygon, to increase the supported assets and enhance cross-compatibility. The company aims to become a significant hub in RWA investments, with plans to tokenize bonds, real estate, and commodities. Chief revenue officer Romeo Luo stated, “Backed combines its tokenization capabilities with its robust fiat infrastructure to unite traditional finance and Web3.”

The targeted audience of the Alchemy Pay platform does not include U.S. residents, as they already have access to equities trading through established brokerages. The company focuses on underbanked markets in Asia, Africa, and Latin America, where financial infrastructure remains underdeveloped. Backed creates tokenized assets that comply with European regulations and controls them under a framework in Switzerland. Independent custodians verify each xStock token, ensuring asset backing and security to investors. Alchemy Pay offers effective KYC and AML systems to help with compliance in different countries.

The platform leverages the immutability feature of blockchain to offer transparent record-keeping and smart contracts to automate settlement processes, lowering counterparty risks. These factors contribute to Alchemy Pay serving as a secure onramp to the global use of RWA. The regulatory environment for RWAs and Crypto ETFs is still evolving globally, and compliance across different jurisdictions will be crucial. Ensuring the secure custody of the underlying traditional assets that back the tokens is paramount, with Backed Finance’s infrastructure playing a key role. Educating users and gaining widespread adoption for this new method of accessing traditional assets will take time and effort.