Backed Finance launch of a tokenized government bond on the layer-2 network Base.

The tokenization protocol has effectively converted BlackRock’s iShares bond ETF UCITS, which tracks a blend of short-term U.S. Treasury bills. The tokenized version takes the ticker of blBO1.

But that’s just the beginning, Backed co-founder Adam Levi told Decrypt.

“We can tokenize anything held in a bank account–and we look forward to expanding our product offering,” he said. “Organizations benefit from not having to interface with TradFi or develop their own legal process by working with Backed for RWA tokenization.” 

RWA stands for real-world assets, like equities, commodities, art, or collectibles. Base is the Coinbase-incubated layer-2 network built using
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Author: Liam J. Kelly

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