Backed Finance - Tokenized Securities & Treasury ETFs

What is Backed Finance?

Backed Finance is a Swiss-regulated platform that brings traditional financial instruments on-chain through fully-backed, tokenized securities. The company's flagship products include bIB01 (iShares $ Treasury Bond 0-1yr ETF) and bIBTA (iShares Treasury Bond ETF), providing blockchain-native access to some of the world's most liquid fixed income products.

What distinguishes Backed is its regulatory approach: tokens are issued as Swiss structured products under FINMA oversight, backed 1:1 by the underlying securities held in segregated custody.

How Backed Finance Works

Swiss Structured Product Framework

Legal Structure

Backed tokens are issued as Swiss structured products:

Issued by Backed Assets GmbH (Swiss-regulated)
Backed 1:1 by underlying securities
Segregated custody at Swiss banks
Regular third-party audits

Token Mechanics

Each Backed token represents ownership of underlying assets:

bIB01: Tracks iShares $ Treasury Bond 0-1yr ETF
bIBTA: Tracks iShares Treasury Bond ETF
bCSPX: Tracks S&P 500 (for equity exposure)

NAV Tracking

Token prices track the NAV of underlying ETFs:

Daily NAV calculations
On-chain price feeds via Chainlink
Minimal tracking error

Minting and Redemption

Primary Market (Authorized Participants)

Institutional minting/redemption at NAV
Requires onboarding and verification
Settlement via traditional banking rails

Secondary Market (All Users)

Trade on DEXs (Uniswap, Curve)
No minimum amounts
Subject to market liquidity

Key Statistics

Total Value Locked: $50M+ across products
Primary Products: bIB01, bIBTA, bCSPX
Current APY: 4.5-5.0% (Treasury products)
Regulation: Swiss FINMA oversight
Chains: Ethereum, Polygon, Gnosis Chain

Yield Opportunities

bIB01 - Short-Term Treasury Exposure (4.5-5.0% APY)

Access the most liquid short-term Treasury ETF on-chain:

Tracks iShares $ Treasury Bond 0-1yr (SHV)
Ultra-low duration (minimal interest rate risk)
Highest credit quality (US government backing)
Daily NAV appreciation

DeFi Integration Strategies

Collateralization: Use Backed tokens as collateral where supported. Liquidity Provision: Provide liquidity in Backed token pairs.

Getting Started with Backed Finance

Step 1: Understand Access Options

Secondary Market (Easier)

Trade on DEXs without direct Backed relationship
Check jurisdiction restrictions
No minimum amounts

Primary Market (Institutional)

Apply through Backed Finance
Complete institutional onboarding
Access NAV minting/redemption

Step 2: Acquire Tokens

Via DEX

Connect wallet to supported DEX
Trade for desired Backed token
Hold in any ERC-20 compatible wallet

Step 3: Monitor and Manage

Track NAV through Backed dashboard
Compare with alternatives using Fensory

Risk Considerations

Regulatory Risk: Swiss regulatory framework may change. Cross-border restrictions vary. Tracking Error: bIB01/bIBTA may not perfectly track underlying ETFs. Liquidity Risk: Secondary market liquidity is limited compared to underlying ETFs. Jurisdictional Restrictions: Not all jurisdictions permit access. US persons may face restrictions.

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