Backed, a Zurich-based company, has announced its integration of the BNB Smart Chain (BSC) into its token issuance framework. This framework enables the tokenization of off-chain assets such as treasury-based ETFs and stocks, and is compliant with Swiss blockchain regulations. The BNB Chain offers a large and active smart contract user base, reduced transaction fees, and the capacity to accommodate high transaction volumes quickly. This makes it a competitive alternative to Ethereum. Backed’s products are already being used in practical applications. Angle Protocol is using Backed’s bC3M and bHIGH as collateral, while Ribbon Finance is integrating bIB01 to optimize yields. Treasury managers are also recognizing the utility of these tokenized products as on-chain assets. Giorgio Giuliani, head of product at Backed, commented on the move, “At Backed, we believe in providing our clients with choices, and this expansion allows them to choose the best-suited chain for their need. Our BEP-20 tokens on BSC are fully compatible with our ERC-20 tokens on Ethereum, ensuring seamless integration across networks.” He added, “This integration with the BNB Chain ecosystem brings our products to a large and active user base, saves costs, and provides better market access for tokenized real-world assets.” Backed’s integration of the BNB Chain is a step towards creating a versatile blockchain environment that emphasizes integration and operational efficiency.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇨🇭 🇸🇬 |
| Sentiment | positive |
| Relevance Score | 9 |
| People | Giorgio Giuliani, Angle Protocol, Treasury Managers, Ribbon Finance |
| Companies | Ribbon Finance, Ethereum, bHIGH, Angle Protocol, Backed, BNB Smart Chain (BSC), bIB01, bC3M |
| Currencies | Ethereum, Bitcoin, Binance Coin, bep-20, erc-20 |
| Securities | None |
