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The issuance process allows Backed clients to get exposure to real-world securities in the form of ERC-20 Tokens (bTokens).
Check out the following videotutorial to quickly understand how to issue
How does the process work?
The Backed platform is blockchain-based, and actions (issuance or redemption of tokens) are triggered by incoming transactions from your pre-approved wallet. To Issue tokens:
- 1.Click on Issuance
- 2.Select the Chain and Network where you want to issue your bTokens
- 3.Copy the unique deposit address presented by the platform
- 4.Go to your wallet and send the appropriate stablecoin to the address presented
- 5.Backed will process your transaction: convert your stablecoins to fiat and buy the underlying securities
- 6.You can follow the status of this process on the Backed Platform
- 7.When the underlying securities are bought, Backed will send you the bTokens to the same wallet from which you sent the stablecoin payment.
The Backed platform is always open, and you can place your orders whenever you want. However, we can only execute your orders when the markets for the underlying asset are open. Specific hours vary for different products depending on the opening hours of the stock exchange where the underlying asset is traded.
The market status is indicated on the platform when initiating the order.