Backed’s goal is to create tokenized RWAs that are composable and interoperable with developers' applications and is excited to be building on a chain that is putting developers first.
Base is built to bring the next billion users on-chain; creating an environment that “just works” for end users. The chain is EVM compatible meaning code is interoperable, but with fees that are 10x cheaper than Ethereum.
Operating under the Swiss DLT act, Backed issues tokens (bTokens) tracking the value of a variety of assets, including treasury ETFs, corporate bond ETFs, and equities, all of which are fully collateralized by the underlying asset and are freely transferable across wallets.
It’s important to note that Backed’s tokenized financial assets have not been and will not be registered under the U.S. Securities Act of 1933 or with any securities regulatory authority of any State or other jurisdiction of the U.S. This means that the tokens may not be offered, sold or delivered within the U.S to, or for the account or benefit of U.S. Persons. Additionally, bTokens can only be bought directly by qualified investors and licensed resellers onboarded with Backed who pass know-your-customer and anti-money laundering checks.
“We are incredibly excited to see how Base follows through on its commitment to be developer friendly, and how protocols will build on Base using bTokens. We are constantly seeing fascinating new use cases developed for our product, and we are certain Base will provide an excellent platform for further experimentation.” - Giorgio Giuliani, Head of Product.
View the transaction on Base Scan.
About Backed:
Backed is a Swiss start-up bridging real-world assets on-chain. Backed issues on-chain tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT act.
Backed’s products are only sold directly to qualified investors and licensed resellers. Backed’s tokens are not offered, sold or delivered within the United States, or for the account or benefit of U.S. Persons.
Learn more about Backed at backed.fi and by following us on LinkedIn and Twitter.
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Not for the distribution to any U.S. Person or any person or address in the United States.
Backed DOES NOT sell its tokens to U.S. Persons or for the account or benefit of U.S. Persons, and tokens are not marketed, offered, or solicited in the U.S. or in any other prohibited jurisdiction.
For a full list of prohibited and restricted countries and review of legal documentation, please visit https://www.backedassets.fi/legal-documentation
The Backed Assets bIB01 (ticker symbol: bIB01) is a tracker certificate issued as an ERC-20 token, which tracks the price of the iShares $ Treasury Bond 0-1yr UCITS ETF. Backed Finance AG and its subsidiary Backed Assets GmbH are not affiliates of or licensed by BlackRock Inc, BlackRock Fund Advisors and any of its affiliates ("BlackRock"). BlackRock is not responsible in any way to bIB01 products.
