#RWA Alchemy Pay launches 55 U.S. tokenised ETFs and stocks across multiple networks, including Solana, through Backed xStocks. Cryptocurrency payments platform Alchemy Pay said in an announcement shared with Cointelegraph on Thursday that it is expanding its business into real-world assets (RWA) through a new partnership with tokenization firm Backed Instead. The company plans to launch 55 tokenised U.S. exchange-traded funds (ETFs) and stocks on its RWA platform through Backed xStocks integration. The launch will enable direct trading of fiat currencies with RWAs, with a focus on regions where U.S. investment products are not available. Ailona Tsik, Chief Marketing Officer at Alchemy Pay, said: "By partnering with Backed to enable ordinary people to invest in the world's leading stocks and ETFs, breaking down traditional barriers that prevent too many people from participating. " Backed also offers tokenised stocks and ETFs to Kraken, a U.S. cryptocurrency exchange. 🔥Alchemy Pay's RWA will not work in the United States Alchemy Pay's upcoming RWA platform will be available in regions where the platform supports fiat on-ramps and xStocks are unrestricted. In addition to heavily sanctioned jurisdictions such as Iran, North Korea, and Syria, the list of countries where xStocks is restricted also includes the United States, which makes Alchemy Pay's RWA unavailable to US residents. Start your crypto journey with Coinbase! Join the millions of people around the world who trust Coinbase to securely invest, spend, save, and earn cryptocurrency. Buy Bitcoin, Ethereum, and more cryptocurrencies with ease! Tsik told Cointelegraph: "In fact, users in the U.S. already have relatively seamless access to traditional stocks such as stocks and ETFs through established brokerage platforms. He added: "Our mission with this product is to bridge the gap for users outside of the U.S., especially in regions that have traditionally not had direct access to such assets." 🔥 RWA is expected to roll out to Solana in August Alchemy Pay's real-world asset (RWA) platform is expected to go live in August, and prototypes of the product are currently available through a dedicated portal. U.S. exchange Kraken also announced in May that it would launch a risk-weighted asset (RWA) service in partnership with Backed in May. While Backed currently issues assets on Solana (the same blockchain used by Kraken's upcoming tokenised RWA platform), Alchemy Pay says 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 work with RWA companies to support a wide range of RWA assets on 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 more than 300 payment channels, including Visa and Apple Pay.