Backed Coinbase Global

BCOIN Price

About Backed Coinbase Global (BCOIN)

Backed Coinbase Global (BCOIN) is a tokenized tracker certificate issued as an ERC-20 token that tracks the stock price of Coinbase Global Inc. (COIN).

• Each BCOIN token is 1:1 backed by the underlying shares of Coinbase Global Inc. held with regulated Swiss third-party custodians.
• The project utilizes a bankruptcy-remote structure, ensuring that the underlying assets are legally separated from the issuer's balance sheet.
• BCOIN is designed for composability within decentralized finance (DeFi), allowing users to integrate real-world stock exposure into on-chain protocols.

What Is Backed Coinbase Global

Backed Coinbase Global is a product of Backed Finance, a project focused on bringing real-world assets (RWAs) to blockchain networks. It provides a bridge between traditional equity markets and the digital asset ecosystem by tokenizing shares of Coinbase Global Inc. This allows eligible participants to gain exposure to the price movements of Coinbase stock without requiring a traditional brokerage account.

The value of BCOIN is directly linked to the market price of the underlying equity. For every token in circulation, a corresponding share is held in custody. The project operates under the Swiss DLT Act, which provides a legal framework for the issuance of ledger-based securities, enabling the creation of tokens that represent ownership of structured products.

What Makes Backed Coinbase Global Unique

• Bankruptcy Remoteness: The tokens are issued by a specialized entity, and the underlying assets are held in segregated accounts. This structure protects token holders from the credit risk of the issuer itself.
• Permissionless Transferability: While issuance and redemption are restricted to qualified investors who have completed onboarding, the tokens themselves are permissionless and can be freely transferred or traded on secondary markets.
• Corporate Action Reflection: Corporate actions, such as dividends or stock splits, are reflected on-chain through a rebasing mechanism. This ensures that the token balance remains 1:1 with the underlying exposure without requiring manual intervention from holders.

What Can You Use Backed Coinbase Global for?

• On-chain Equity Exposure: Users can hold BCOIN in their own self-custodial wallets to maintain exposure to Coinbase stock price movements within the blockchain ecosystem.
• DeFi Collateral: The token can be used as collateral in supported lending protocols, enabling users to borrow against their equity holdings in a decentralized manner.
• Liquidity Provision: BCOIN can be deployed in liquidity pools on decentralized exchanges to facilitate trading and potentially earn protocol service fees.

How Does Backed Coinbase Global Work?

Backed Coinbase Global operates as a tracker certificate. When new tokens are issued, the issuer purchases the equivalent amount of the underlying asset (Coinbase shares) and places them with a licensed custodian. The tokens are then minted on-chain and delivered to the user. This process ensures that every token is fully collateralized by a real share.

The tokens are currently supported on multiple networks, including Ethereum, Polygon, and Solana, facilitating cross-chain accessibility. Redemption is handled 24/5, aligning with the operating hours of the U.S. equity markets where the underlying asset is traded. The project uses audited smart contracts to maintain the integrity of the tokenized assets and provides publicly verifiable proof of reserves.

Team Info and Investors

Backed Finance was incorporated in Switzerland in 2021. The project chose this jurisdiction to take advantage of the regulatory clarity provided by the Swiss DLT Act regarding ledger-based securities. The project has established the xStocks Alliance, a collaborative ecosystem involving exchanges like Kraken and Bybit, as well as various DeFi protocols, to support the adoption and liquidity of tokenized stock assets. While specific early-stage investors are not detailed in primary documentation, the project focuses on institutional-grade partnerships to realize its vision of on-chain investing.

Where can you buy Backed Coinbase Global?

BCOIN tokens have stopped trading - ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of Backed Coinbase Global (BCOIN)?

The trading volume of Backed Coinbase Global (BCOIN) is $93.49 in the last 24 hours, representing a 0.00% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Backed Coinbase Global (BCOIN)?

Backed Coinbase Global (BCOIN) reached an all-time high of $419.78 and an all-time low of $70.78. It’s now trading -66.00% below that peak and 101.70% above its lowest price.

What is the market cap of Backed Coinbase Global (BCOIN)?

Market capitalization of Backed Coinbase Global (BCOIN) is $6,049,395 and is ranked #1418 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of BCOIN tokens (42 Thousand tokens are tradable on the market today).

What is the fully diluted valuation of Backed Coinbase Global (BCOIN)?

The fully diluted valuation (FDV) of Backed Coinbase Global (BCOIN) is $6,049,395. This is a statistical representation of the maximum market cap, assuming total number of 42 Thousand ETH tokens are in circulation today.

How does the price performance of Backed Coinbase Global compare against its peers?

With a price decline of -15.10% in the last 7 days, Backed Coinbase Global (BCOIN) is underperforming the global cryptocurrency market which is down -5.90%, while underperforming when compared to similar Polygon Ecosystem cryptocurrencies which are up 0.00%.

How to add Backed Coinbase Global (BCOIN) to MetaMask?

Adding Backed Coinbase Global (BCOIN) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import BCOIN as a token. You can copy BCOIN’s contract address (0xbbcb0356bb9e6b3faa5cbf9e5f36185d53403ac9) and import it manually, or if you've installed MetaMask's chrome extension, add BCOIN to MetaMask with one click on CoinGecko.

Add BCOIN to MetaMask.