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 Backed Tokens available?
Backed is blockchain-agnostic. Backed tokens are currently available on Ethereum and other EVM-compatible chains.
Who is eligible to purchase Backed Tokens?
Backed Tokens are sold to eligible professional investors, who have successfully passed KYC.
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?
Subject to applicable regulation, Qualified Investors and Licensed Resellers onboarded with Backed may make tokens available on the secondary market.
We will update with further information as it becomes available.
Who is prohibited from using Backed Tokens?
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 does Backed make money?
Backed Assets charges a fee when Backed Tokens are issued and redeemed. No management fees are levied and no commission is charged by Backed on trades.
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 Backed tokens provide ownership rights, such as voting?
Backed tokens 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.
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