Adam Levi, co-founder of Backed Finance, says that balancing the need for compliance with the openness of decentralized finance eventually led the company to settle in Switzerland. Companies are registered in Europe, he says, because Switzerland allows them to issue digital representations of shares such as Tesla and Nvidia, known as xStocks, that are freely transferable rather than subject to a so-called whitelist.
Levi recalls: "We looked at five jurisdictions and the lawyers told me, 'Yes, you can do it, but it will be a whitelisted model.' I said, 'No, I'm not interested. I'm not going to build it that way because I can't use it myself.'"
In the crypto industry, whitelists are often used to authorize individuals to participate in a specific event, such as the minting of an NFT or the initial offering of a cryptocurrency. In the context of tokenized shares, whitelists can determine who is eligible to hold the digital representation of those shares.
Backed Finance CEO: xStocks issuer chooses Switzerland to avoid whitelisting restrictions on Tesla tokenized shares
2025-09-18 00:56:31
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
