Backed Launches Tokenized Coinbase Stock wbCOIN on Base Network
- Backed launches wbCOIN, tokenized COIN stock, on Base network.
- wbCOIN trades with USDC pair on CoWSwap.
- No Coinbase affiliation; backed 1:1 by $COIN.
Backed, a Swiss issuer, has introduced wbCOIN, a tokenized version of Coinbase stock, on the Base network.
wbCOIN’s launch may alter crypto stock trading, especially with the new wbCOIN/USDC pair.
Backed Revolutionizes Stock Tokenization with wbCOIN
The launch of wbCOIN marks a significant step by Backed in the realm of real asset tokenization. Offering a tokenized version of Coinbase stock, wbCOIN is freely transferable and backed 1:1 by $COIN stock.
Backed declared their independence from Coinbase, emphasizing their interest in the stock. The trading for wbCOIN commenced on CoWSwap, showcasing a new dimension for digital asset accessibility.
Market Curiosity Peaks with wbCOIN/USDC Pair Debut
Markets have reacted with curiosity as wbCOIN trades against USDC with liquidity offered by Aerodrome, indicating evolving opportunities in the tokenization sector. Industry observers are watching for substantial shifts in trading behavior.
The initiative underscores innovation in cryptocurrency markets. It reflects an ongoing trend where traditional financial instruments, like stocks, discover new life on blockchain networks, challenging existing norms.
Global Adoption Potential for Tokenized Securities
This move by Backed aligns with prior announcements by Base developers concerning tokenized COIN stock for non-US users. It indicates the potential for broader adoption of tokenized securities globally.
Experts suggest robust implications for trading dynamics. Historical trends indicate that such initiatives might catalyze interest in digital assets, inviting scrutiny from both enthusiasts and skeptics alike.
“We have no affiliation with Coinbase. We just like the stock.” – Backed
