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Wrapped bTokens

What are Wrapped bTokens?

Wrapped bTokens (or wbTokens) are a permissioned version of bTokens. Only whitelisted wallets can access Wrapped bTokens.

Why are Wrapped bTokens useful?

Wrapped bTokens are a permissioned version of our standard bTokens. They limit the accessibility to a set of identified users. This means that wbTokens can be safely transferred or LPed on DEX pools because they will always end up in the hands of wallets that are allowed to own them.

How can I get access to Wrapped bTokens?

It is possible to get wbTokens via the Backed Wrapper Contract (at or the contract directly) - or via a direct transfer from a wbToken holder.
Alternatively, users can access them from liquidity pools on the main DEXs where every whitelisted user is allowed to get access to wrapped tokens.

On which chains are Wrapped bTokens available?

Initially Wrapped bTokens will be available only on Ethereum. We will soon roll it out also on the other chains on which Backed operates.

How do I wrap or unwrap?

A user can wrap and unwrap in two ways: via the UI or directly interacting with the contract.


A user can go to and simply wrap or unwrap using the widget on the page.


  • UNWRAP (wbToken → bToken):
    • call withdrawTo(address receiver, uint256 amount) on 0xabc56186c2df63c338e04c9c9b9814e27983a5a9 contract
  • WRAP (bToken → wbToken):
    • Approve spending of bToken by wrapped token contract (call approve(address spender, uint256 amount) on 0xCA30c93B02514f86d5C86a6e375E3A330B435Fb5 contract (bToken) with spender set to 0xabc56186c2df63c338e04c9c9b9814e27983a5a9)
    • call depositFor(address receiver, uint256 amount) on 0xabc56186c2df63c338e04c9c9b9814e27983a5a9 contract

Can I hold Wrapped bTokens if I don’t have a whitelisted wallet?

No, only whitelisted wallets can be holders of wbTokens. If you don’t have a whitelisted wallet and another wallet sends you wbTokens, the transaction will fail.

How can I whitelist my wallet?

Initially, only the wallets of clients KYCed by Backed will be included in the whitelist. Progressively we will be opening the whitelist to more users, coming from other KYC/KYB providers.