Wrapped Coinbase Global tokenized stock (WBCOIN) is part of Backed’s initiative to bring real-world assets on-chain. Backed creates permissionless tokens that mirror the value of underlying assets like stocks or ETFs, with full collateralization backing each token. These tokens are structured as MiFID II-compliant financial products and are issued under an approved EU prospectus. By providing tokenization services to institutional clients, Backed aims to bridge the gap between TradFi and DeFi. It is important to note that Backed’s native tokens are not offered, sold, or delivered within the United States, nor are they available for the account or benefit of U.S. Persons.