Backed Finance launches tokenized version of BlackRock ETF and ERC-20 token bCSPX

ChainCatcher news, Swiss crypto company Backed Finance announced the launch of a tokenized version of the BlackRock ETF and the ERC-20 token bCSPX supported on the Ethereum blockchain, which tracks major U.S. companies like Apple, Microsoft, Amazon, and Alphabet.

Backed Finance stated that the related tokens are backed 1:1 by these stock shares, which are held by a licensed custodian. It is important to note that the current Uniswap interface shows that bCSPX is "unsupported," due to the reason that it "may not work well with smart contracts, or we (Uniswap) cannot trade it for legal reasons." (source link)