BackedFi launches RWA trading on Hyperliquid after 500-HYPE listing auctions
The rollout adds eight on-chain U.S. stock and index listings, including the S&P 500 and Nvidia, after initial market-code auctions on Hyperliquid cleared at 500 HYPE each.
BackedFi has launched a real-world asset, or RWA, trading section on Hyperliquid with eight on-chain U.S. stock and index listings, including the S&P 500 and Nvidia. Users can buy the tokenized assets on Hyperliquid using HYPE. Earlier, BackedFi bought a new Solana spot trading code on Hyperliquid for 500 HYPE, valued at $34,200, with the code identified as solana:Xsc9qvGR1efVDFGLrVsmkzv3qi45LTBjeUKSPmx9qEh, according to a post by HyperliquidNews on X. The first auction for each new listing was completed at 500 HYPE, indicating the initial distribution step for the new market segment.
- RWA: A real-world asset tokenized on-chain.
- spot trading: Buying or selling an asset for immediate settlement.
- HYPE: The native token used within the Hyperliquid ecosystem.