Zug – Backed Finance Launches Tokenized Coinbase Stock ($bCOIN)

Backed Finance has made a bold move in the world of decentralized finance by launching its tokenized version of Coinbase stock, referred to as $bCOIN, on the Base network. This new offering is available for seamless trading on CoW Swap and is supported by a dedicated pool on Aerodrome, marking a significant milestone in bringing traditional financial assets into the decentralized era. This launch provides 24/7 access to tokenized equities on the blockchain.

Key Features of $bCOIN

• Legally Compliant Structure: Each $bCOIN is a legally compliant, 1:1 backed representation of Coinbase stock that allows for easy transferability and trading without intermediaries.
• 24/7 Trading via DEX Pools: $bCOIN is live on Aerodrome with the trading pair $wbCOIN $USDC available.
• Interoperability with DeFi Apps: Soon, users will be able to use $bCOIN as collateral for loans, expanding its utility.
• Freely Transferable: Users can easily move $bCOIN between wallets and pools without needing intermediaries.

Vision Behind the Launch

Adam Levi, Co-Founder of Backed Finance, stated, “We’re proving that the future of finance is happening now—open, accessible, and interoperable.” He elaborated that their tokenization infrastructure has been rigorously tested over the past three years. Levi sees $bCOIN as a genuine financial product issued on the blockchain, aiming to enhance the usability of tokenized equities and improve user experiences compared to traditional finance.

The launch of $bCOIN is pivotal for the financial industry, enabling global access to equity markets without reliance on centralized financial institutions. By leveraging the scalability and security of the Base network, Backed Finance is ushering in a new era of tokenized finance that merges traditional assets with decentralized opportunities.

About Backed Finance

Backed is at the forefront of tokenized securities, issuing permissionless tokens that track real-world assets like stocks and ETFs. These tokens comply with MiFID II regulations, ensuring security and legality in on-chain finance.