First tokenized security launched on Coinbase’s Base protocol
The first tokenized security of the protocol was just launched on Coinbase’s scalability layer Base. Decentralized finance (DeFi) startup Backed.fi announced today that it has issued the first tokenized security on Base – bIB01, a tokenized short-term US treasury bond ETF. This launch transaction marks the first tokenized real-world asset (RWA) on Base, Coinbase’s layer 2 network built for scalable applications. Backed is utilizing Base to tokenize financial assets like ETFs and make them freely transferable across wallets while remaining fully collateralized. bIB01 tracks the iShares $ Treasury Bond 0-1yr UCITS ETF and operates under the Swiss DLT act. Base offers a low-cost, Ethereum virtual machine compatible environment optimized for developers looking to build scalable on-chain applications. Backed has been preparing for Base’s mainnet launch to ensure its tokenize d RWAs can be seamlessly integrated. You might also like: What is Base? Unpackin...