Backed TeslaPrice

(BTSLA)

Backed Tesla (bTSLA) is a digital asset issued as an ERC-20 token. Its main function is to track the price of Tesla Inc. (TSLA) stock. The project is designed to offer eligible cryptocurrency market participants a way to access the stock price of Tesla Inc. in a regulatory-compliant manner. bTSLA tokens are fully collateralized by the underlying Tesla Inc. stock. They are intended to be freely transferable between digital wallets and usable within decentralized finance (DeFi) applications. The issuer of Backed Tesla is Backed Assets (JE) Limited, which is a subsidiary of Backed Finance AG. Backed Finance AG is a Swiss company focused on bringing real-world assets onto blockchain platforms. The issuance of these tokens adheres to the Swiss Distributed Ledger Technology (DLT) act. The bTSLA token is available on the Ethereum blockchain as an ERC-20 token, and is also compatible with EVM-compatible networks and Solana as an SPL token. It is important to note that these tokens are not intended for distribution to individuals or entities in the United States. Service providers involved in the project include Backed Finance AG as the tokenizer, with Alpaca Securities LLC, InCore Bank AG, and Maerki Baumann & Co. AG serving as brokers and custodians. Security Agent Services AG acts as the security agent. Tesla Inc., the company whose stock bTSLA tracks, is widely recognized for its electric vehicles and sustainable energy solutions. Some information suggests that bTSLA operates as a proxy contract, which implies that the contract owner could potentially implement code changes. Learn more

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