Frequently Asked Questions
What are Backed Tokens?
Backed Tokens (bTokens) are ERC-20 tokens that represent the ownership of structured product units. Each token is a unit of a fully collateralized tracker certificate, which tracks the listed value of a specific traded security (the underlying) and is fully backed by that security.
Does Backed have a native token (“wen token”)?
Backed does not, and currently does not plan to have its own native token.
On which blockchains are bTokens available?
bTokens are available on Eth Mainnet, Base, Gnosis, Arbitrum, Avalanche, Optimism, BSC, Sonic and Polygon
Tokens can be bridged using our native bridge, or many crosschain swap DeFi apps such as Jumper, Bungee, and Swaps.io.
Who is eligible to purchase Backed Tokens?
bTokens are retail-grade tokenized securities, and are freely transferable on the secondary market.
However, to mint and redeem bTokens directly with Backed, users need to go through relevant KYC and AML processes. Only professional investors and
What are the requirements to be considered an individual professional investor?
Private individuals must be able to declare that they (i) hold assets of at least CHF 500,000 and have sufficient professional knowledge or experience; or (ii) hold bankable assets of at least CHF 2,000,000 ("opting-out").
You can find the full Investor Classification Form here.
Who can redeem Backed Tokens?
Professional and Retail clients onboarded with Backed who have passed KYC can redeem Backed tokens directly with Backed at NAV + fee, subject to minimum transaction values.
Where can retail market participants buy and sell Backed Tokens?
Retail market participants can buy bTokens through regulated exchanges, and peer-to-peer via DEXs. For a list of liquidity pools facilitating peer-to-peer swaps, see our DeFi Dashboard. It's important to note that Backed DOES NOT actively maintain these DEX pools, and they are subject to activity on the secondary market. Regulated exchanges currently listing bTokens are: INX eNor Securities Assetera
Who is prohibited from using bTokens?
Backed DOES NOT sell its tokens to U.S. persons or for the account or benefit of U.S. Persons, and tokens are not marketed, offered, or solicited in the U.S. or in any other prohibited jurisdiction.
Additional restrictions are in place, please consult the lists below and on Backed Assets Legal Documentation.
Prohibited Countries
Individuals or entities from these countries are prohibited from using Backed products:
Iran
North Korea
Syria
United States of America
Non-serviceable Countries
Backed does not service individuals or entities from these countries:
Albania
Barbados
Belarus
Cambodia
Canada
Colombia
Haiti
Jamaica
Japan
Myanmar
Nicaragua
Pakistan
Russia
Ukraine
Vanuatu
Venezuela
Yemen
All African countries, except Mauritius and South Africa
All other countries of the Commonwealth of Independent States
How are the Backed Tokens priced?
Backed Tokens are sold or redeemed at the price its brokers executed the trade for the underlying at the time of issuance or redemption (plus fees).
Backed Assets is committed to "Best Execution", meaning it will not trade against its customers and will pass on the price its brokers execute.
Do bTokens provide ownership rights, such as voting?
bTokens convey legal ownership of our tracker certificates, which are one to one collateralised by the underlying security. The tracker certificate gives the primary claim to the value of the collateral.
bTokens do not provide ownership over the underlying asset or convey any of its attached rights, including voting.
Who is the custodian of the underlying securities?
Full information about our custodian(s) can be found on Backed Assets Legal Documentation.
Last updated