Real-world asset project Backed issues tokenized security on Base

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By BitcoinWiki News

Key Takeaways:

– Backed has issued the first tokenized security product on Base named bIB01
– bIB01 tracks a short-term US treasury bond ETF
– Backed issues tokens (bTokens) that function as ERC-20 tokens
– Tokens track the value of different assets such as treasury ETFs, corporate bond ETFs, and equities
– Tokens are collateralized by the underlying asset and freely transferable across wallets
– Backed previously issued b1B01 tokens on Ethereum and Gnosis chains with a market capitalization of over $37 million
– Base is a low-cost, developer-friendly chain suitable for experimentation with tokenized securities products
– bIB01 tokens track the investment results of a short-term iShares treasury bond ETF
– Tokens can be purchased by licensed investors and resellers onboarded with Backed
– Tokenized assets are not registered with the SEC and will not be offered to U.S. residents
– Backed is a major player in the tokenized securities market along with other companies such as Ondo Finance, Maple Finance, Matrixdock, OpenEden, and TrueFi


Backed, a real-world asset (RWA) tokenizer, has issued the first tokenized security product named bIB01 on the Base blockchain. These tokens track a short-term US treasury bond ETF and can be freely transferred across wallets. Backed operates under the Swiss DLT act and issues tokens collateralized by different assets, including treasury ETFs, corporate bond ETFs, and equities. This move to Base comes after Backed has already issued tokens on the Ethereum and Gnosis chains, with a combined market capitalization of over $37 million. Base, backed by Coinbase, is a Layer 2 blockchain on Ethereum and is seen as a low-cost, developer-friendly chain for experimenting with tokenized securities. Backed’s bIB01 tokens specifically track the investment results of a short-term iShares treasury bond ETF, and they are available for purchase by investors and licensed resellers who pass the necessary checks. However, these tokenized assets are not registered with the SEC and are not offered to U.S. residents. Backed is among several major players in the tokenized securities space, including Ondo Finance, Maple Finance, Matrixdock, OpenEden, and TrueFi.

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