PINTU Application Launches XStocks, Facilitates Access To Tokenization Of Shares For Indonesian Crypto Users

JAKARTA - PT Pintu Kemana Saja (PINTU), the first all-in-one crypto application in Indonesia launched eight xStocks tokens for Indonesian crypto investors including NVIDIA, AAPLX, GOOGLX, METAX, TSLAX, COINX, GOODX, & CRCLX. The presence of this xStocks expands its choice for crypto investors in Indonesia who want to invest in tokenizations of shares of global companies traded on-chain.

Head of Product Marketing at the DOOR of Iskandar Mohammad revealed that the launch of the xStock token is our commitment to bridge traditional financial access into the Web3 ecosystem.

"xStocks itself is a blockchain-based token that represents real-world stock and exchange-traded funds (ETF) such as NVIDIA, Google, Apple, Meta, Tesla, and other companies, where each xStock is supported 1:1 by the original assets that are underlying," he said, in a written statement, Monday, September 15.

Iskandar added that xStocks is unique compared to the company's original shares, which can be traded 24 hours, shipped between wallets, used in the Decentralized Finance (DeFi) protocol, and more accessible without the need for a broker account.

"Token xStocks can be an option for investors who want flexibility in accessing global corporate stock assets tokenization," he said.

The real-world asset tokenization market or Real-World Assets (RWA) has enormous potential. Based on a report from a Web3 digital property company called Animoca, it was stated that real-world asset tokenization could open up new opportunities on traditional financial markets worth $400 trillion or the range of IDR 6.5 quadrillion.

RWA tokenization as a game-changer for traditional markets can be integrated with the blockchain ecosystem. This is also an option for crypto investors who want to enter traditional financial assets without having to leave the blockchain network and of course stay in an regulated corridor, such as xStocks in the DOOR application," said Iskandar.

For information, xStocks is issued by the Limited Assets (JE) company subject to a regulatory framework under the Swiss DLT (Distributed Ledger Technology Act) law. Underlying assets of xStocks are stored on licensed custodian banks and have high supervision & transparency.

"Aset tokenization is a very good innovation and provides growing space for the crypto industry that previously had a specific market. With asset tokenization, it opens access for global audiences which of course is expected to make the capital market accessible easily to anyone and anywhere else," concluded Iskandar.