Backed Coinbase GlobalBCOIN

Backed Coinbase Global (BCOIN) is a tokenized stock: an on-chain token issued by Backed Finance that tracks Coinbase Global, listed on NASDAQ (Financials). The price on this page is the token's on-chain price, aggregated across the exchanges that list BCOIN.

What is the project about?

Backed brings real-world assets (RWAs) such as stocks or ETFs to blockchain rails. For example, our product bCOIN is a tracker certificate issued as an ERC-20 token. bCOIN tracks the price of Coinbase Global Inc. and it is designed to give eligible cryptocurrency market participants regulatory-compliant access to the stock price of Coinbase.

What makes your project unique?

Backed issues permissionless tokens (bTokens) that represent ownership of structured products. Backed tokens are 1:1 backed by the underlying assets, held by Swiss third-party custodians, and are bankruptcy remote book-entry securities.

History of your project.

Backed was incorporated in 2021 in Switzerland due to the regulatory clarity the Swiss DLT Act provided to the project. Backed released its first tokenized product on Ethereum in early Q1 2023. Backed now supports issuance and redemption on many different blockchains.