Question 1

What is Backed MicroStrategy (bMSTR)?

Accepted Answer

Backed MicroStrategy (bMSTR) is a tokenised tracker certificate issued as an ERC-20 token. It mirrors the price of MicroStrategy Incorporated’s Class A common stock. The token is fully backed 1:1 by the underlying equity and is designed to give eligible cryptocurrency market participants compliant, onchain access to the share price of MicroStrategy.

Backed offers two categories of instruments: **bTokens** and **xStocks**. Both provide onchain exposure to traditional assets and are fully collateralised. bTokens include tokenised equity and fixed-income instruments, while xStocks focus exclusively on tokenised public equities.

Question 2

What is Backed MicroStrategy (bMSTR) used for?

Accepted Answer

bMSTR is used to provide onchain exposure to MicroStrategy’s stock. It allows eligible investors to interact with traditional financial assets through blockchain infrastructure while maintaining compliance with regulatory frameworks. The token enables diversification of tokenised portfolios by including a technology company known for integrating Bitcoin into its corporate treasury strategy.

Question 3

Who created Backed MicroStrategy (bMSTR)?

Accepted Answer

bMSTR is issued by Backed Assets (JE) Limited and developed by Backed Finance AG. The product’s service ecosystem includes Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG and Security Agent Services AG.

Question 4

Token Details

Accepted Answer

- **Issuer:** Backed Assets (JE) Limited  
- **ISIN:** CH1173294377  
- **Network / Chain:** Ethereum & EVM-Compatible (ERC-20)

Question 5

Underlying Asset Information

Accepted Answer

- **Issuer:** MicroStrategy Incorporated  
- **ISIN:** US5949724083  
- **Symbol:** MSTR  
- **Name:** Class A shares (Common Stock) of MicroStrategy Incorporated

Question 6

Service Providers

Accepted Answer

- **Tokenizer:** Backed Finance AG  
- **Broker:** Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG  
- **Custodian:** Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG  
- **Security Agent:** Security Agent Services AG


bMSTR	ERC20	ETH	0xaC28C9178ACc8BA4A11A29E013a3A2627086e422	2023-06-03
bMSTR	ERC20	XDAI	0xaC28C9178ACc8BA4A11A29E013a3A2627086e422	2024-09-12
bMSTR	ERC20	POL	0xaC28C9178ACc8BA4A11A29E013a3A2627086e422	2024-09-16
bMSTR	ERC20	ARB	0xaC28C9178ACc8BA4A11A29E013a3A2627086e422	2024-10-31
bMSTR	ERC20	AVAX	0xaC28C9178ACc8BA4A11A29E013a3A2627086e422	2024-10-09
bMSTR	ERC20	BASE	0xaC28C9178ACc8BA4A11A29E013a3A2627086e422	2025-02-13