Backed launches tokenized securities product "bIB01" on Base

ChainCatcher news, RWA token merchant Backed has issued a tokenized security product named bIB01 on Base, which tracks short-term U.S. Treasury bond ETFs. This issuance marks the first real-world asset token launched on the Base network.

It is reported that Backed operates under the Swiss DLT law, issuing tokens that act as ERC-20 tokens (bToken) to track the value of different assets, including Treasury bond ETFs, corporate bond ETFs, and stocks. These are collateralized by underlying assets and can be freely transferred between wallets.