Backed Finance, an issuer of tokenization of real assets, announced the successful issuance of the first tokenized security on Coinbase’s Base, a layer-two (L2) blockchain. The team introduced the bIB01 token to the decentralized finance (defi) space, simulating the price dynamics of a short-term U.S. Treasury Bond ETF.
According to the Backed Finance team, tokenized real-world assets have been successfully issued on the Base blockchain network. These “b-tokens,” or Backed tokens, are ERC20 tokens that represent ownership of units of structured products. Each token corresponds to a unit of a fully collateralized tracking certificate that tracks the listed value of a specific traded security and is fully backed by that underlying security, according to Backed. The translation is so-so, so let’s just take a look.
