#RWA Alchemy Pay launches 55 tokenized US ETFs and stocks across multiple networks, including Solana, through Backed's xStocks. Cryptocurrency payment platform Alchemy Pay announced on Thursday, in a statement shared with Cointelegraph, that it is expanding its business into real-world assets (RWA) through a new partnership with tokenization company Backed. The company plans to launch 55 tokenized US exchange-traded funds (ETFs) and stocks on its RWA platform through Backed's xStocks integration. This launch will enable direct trading between fiat currencies and RWAs, focusing on regions that lack access to US investment products. Alchemy Pay's Chief Marketing Officer Ailona Tsik stated, "By partnering with Backed, we empower everyday people to invest in leading global stocks and ETFs, breaking down the traditional barriers that have kept too many from participating." Backed also provides tokenized stocks and ETFs to the US cryptocurrency exchange Kraken. 🔥Alchemy Pay's RWA will not be available in the US Alchemy Pay's upcoming RWA platform will launch in regions where fiat currency entry is supported and xStocks are unrestricted. In addition to heavily sanctioned jurisdictions like Iran, North Korea, and Syria, the list of restricted countries also includes the US, preventing US residents from using Alchemy Pay's RWA. Start your cryptocurrency journey with Coinbase! Join millions worldwide who trust Coinbase to invest, spend, save, and earn cryptocurrency securely. Easily buy Bitcoin, Ethereum, and more cryptocurrencies! Tsik told Cointelegraph, "In fact, US users already have relatively seamless access to traditional stocks like stocks and ETFs through established brokerage platforms." She added: "Our mission in launching this product is to bridge the gap for users outside the US, especially in those regions that traditionally lack direct access to such assets." 🔥RWA expected to launch on Solana in August Alchemy Pay's real-world assets (RWA) platform is expected to go live in August, with a prototype of the product currently available through a dedicated portal. The US exchange Kraken also announced in May that it would soon partner with Backed to launch risk-weighted asset (RWA) services. While Backed currently issues assets on Solana (the same blockchain that Kraken's upcoming tokenized RWA platform will use), Alchemy Pay stated that its goal is to integrate more chains over time. Tsik told Cointelegraph, "While xStocks currently issues its RWA assets on Solana and is part of the current integration, we are not limited to a single chain." Tsik added, "In the future, we will continue to collaborate with RWA companies to support various RWA assets across different chains." According to its website, Alchemy Pay's RWA platform is expected to support 173 countries, 50 fiat currencies, all possible crypto assets, and over 300 payment channels, including Visa and Apple Pay.