The post Backed Finance Tokenizes Government Bond on the Base Layer-2 Network! appeared first on Coinpedia Fintech News
The tokenization protocol converted BlackRock’s iShares bond ETF UCITS into a token with the ticker blBO1. Backed Finance plans to expand its offering by tokenizing other real-world assets. Base is a Coinbase-incubated layer-2 network built using Optimism’s OP stack. This comes at a time when the tokenization movement and asset class have taken center stage, with DeFi protocols integrating RWAs to generate revenue for the protocols. For now, US investors are blocked from trading any of Backed’s tokenized offerings.
