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"Backed Finance Leads the Charge: Tokenized U.S. Treasuries Debut on Coinbase Base Blockchain"

Updated: Mar 30

In a groundbreaking move that marks a significant milestone for both the cryptocurrency and traditional financial sectors, Backed Finance has announced the expansion of its tokenized short-term U.S. Treasury offerings. This initiative has made its debut on the Coinbase Base blockchain, setting a new precedent for the integration of real-world assets into the digital asset space.

This innovative step by Backed Finance, a Switzerland-based tokenization firm, not only underscores the growing acceptance of blockchain technology in traditional finance but also highlights the potential for digital assets to offer more accessible and liquid forms of investment. By tokenizing U.S. Treasuries, Backed Finance is bridging the gap between the stability and reliability of government securities and the efficiency and transparency of blockchain technology.

The introduction of these tokenized Treasuries on the Coinbase Base platform represents the first issuance of a real-world asset token on this network. It's a strategic move that leverages the Base blockchain's capabilities to enhance accessibility and liquidity, offering investors an unprecedented opportunity to engage with U.S. Treasuries in a fully digital format.

This offering is not only a testament to Backed Finance's commitment to innovation but also reflects the increasing collaboration between the worlds of traditional finance and cryptocurrency. The tokenized Treasuries are issued under Swiss tokenized securities law, ensuring compliance with regulatory standards while providing investors with a blockchain-based version of BlackRock's short-term U.S. Treasuries exchange-traded fund (ETF). This arrangement promises an annual yield of 5.25%, appealing to investors seeking stable returns.

As the market for tokenized U.S. Treasuries grows, this initiative by Backed Finance and Coinbase could pave the way for more real-world assets to make their way onto blockchain platforms. The fusion of traditional financial instruments with the cutting-edge technology of blockchain not only democratizes access to investment opportunities but also sets the stage for a new era in finance where digital and traditional assets coexist seamlessly.

The launch of tokenized U.S. Treasuries by Backed Finance on the Coinbase Base blockchain is a bold step forward in the evolution of digital assets, potentially catalyzing further innovations and collaborations that will shape the future of finance. 

Monday, March 25, 2024,

Secretary General of ISTA

Augustin Jiang

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