Backed Expands Token Issuance to BNB Smart Chain
Backed, a platform aiming to connect non-blockchain assets to the blockchain infrastructure, has announced that it will be issuing tokens on the BNB Smart Chain (BSC). This move allows Backed to reach more consumers and offer them alternative options for their blockchain needs. The tokens will be issued in accordance with Swiss legislation and will be easily transferable across wallets. They will also be fully collateralized by the underlying assets.
Key Points:
- Backed is expanding its token issuance to include the BNB Smart Chain.
- Tokens will be issued in accordance with Swiss legislation and will be fully collateralized.
- BNB Smart Chain’s user base is a key selling point, with lower transaction costs and faster processing.
- Head of Product at Backed, Giorgio Giuliani, emphasized the importance of providing clients with choices and seamless integration across networks.
- Angle Protocol is using Backed’s products for stablecoin collateral.
Hot Take:
Backed’s decision to expand its token issuance to the BNB Smart Chain is a strategic move to reach a larger user base and offer cost-effective alternatives for blockchain integration. By leveraging the BNB Smart Chain’s popularity and optimized transaction processing, Backed aims to provide its clients with more choices and better market access for tokenized real-world assets. This expansion also highlights the growing demand for interoperability and scalability in the crypto industry.
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