Tokenized asset issuer Backed Fi announced yesterday (13th) that it has cooperated with eNor Securities, a Latin American stock exchange, with the goal of providing tokenized real-world assets (RWAs) to retail investors.
El Salvador has made advanced arrangements again and is the first to list tokenized securities.
eNor is a tokenized asset exchange based in El Salvador. The first tokenized asset $ESOY uses soybeans as a reserve. It was developed by e-Grains, its subsidiary responsible for tokenizing agricultural products. It has currently issued a value of US$100 million. of $ESOY. Through this cooperation, eNor will be able to provide investors with Backed Fi’s tokenized securities series “bTokens”. In this regard, Bernardo Quintao, Business Director of Backed Fi, said that this cooperation with eNor has taken another big step forward in the popular adoption of tokenized securities.
Backed Fi announces cooperation with eNor securities Source: X/@BackedFi
Backed Fi and Chainlink’s RWA cooperation case
Previously, Backed Fi also worked closely with Chainlink, a smart contract platform that has focused on developing tokenization technology in recent years. In September 2022, Backed Fi adopted Chainlink’s Proof of Reserve technology to improve the off-chain asset transparency of bTokens. ; In July 2023, Backed Fi once again announced the use of Chainlink price feeds to maintain price anchors for its three bTokens, including $bIB01, $IBTA and $bCSPX.
What other tokenized assets are bTokens?
bTokens issued by Backed Fi are Ethereum ERC-20 standard tokens. The protocol maintains a 1:1 price anchor between bTokens and collateral through full collateralization of various physical assets, such as ETFs and commercial papers. According to the official website of Backed Fi, there are currently 8 fixed income products including iShares short-term Treasury bonds, and 9 stock products including Tesla, NVIDIA, Coinbase, MicroStrategy and S&P 500 Index ETFs. Through these bTokens, Backed Fi can provide its customers with a diversified selection of physical assets.