Wrapped Backed Coinbase Global Price

Wrapped Coinbase Global tokenized stock (Backed) (WBCOIN) is a cryptocurrency representing tokenized equity of Coinbase Global, Inc., issued by Backed Finance. The token sits squarely inside the real-world asset vertical, fusing a regulated stock with an on-chain bearer instrument.

Trading under the ticker wbCOIN, the asset mirrors the price of Coinbase shares and operates on the Base network. The token belongs to a broader class of MiFID II-compliant financial products that Backed structures under an approved EU prospectus, effectively linking traditional stock markets with decentralized finance. It strips away the need for a conventional brokerage, delivering exposure through a permissionless, auditable on-chain wrapper.

Wrapped Coinbase Global tokenized stock operates on the Base network, while identical contract deployments exist on Ethereum, Gnosis Chain, Avalanche, and Polygon. This multi-chain footprint avoids liquidity silos without abandoning a unified token standard.

The token conforms to the ERC-20 standard, enabling deep compatibility with wallets, decentralized exchanges, and lending protocols across all supported EVM environments. A single canonical contract address—0xdec933e239…—anchors each deployment, reinforcing cross-chain fungibility. Backed’s issuance framework subjects the token to regulatory oversight as a MiFID II-compliant instrument, an unusual attribute among on-chain equity wrappers.

Backed Finance created the product as part of its on-chain equities suite, drawing on a prospectus approved by the Liechtenstein Financial Market Authority. The token wrapper emerged to satisfy demand for liquid, collateralized exposure to a publicly traded crypto-native company without the settlement delays and custodial friction of legacy markets. Early trading concentrated on Base, where it integrated into the chain’s nascent DeFi ecosystem.

The project’s objective extends beyond a single stock. It aims to reconstruct the architecture of asset ownership by programmatically linking off-chain securities to transparent, self-custodial ledgers. Regulated equities become composable inside smart contracts, generating capital market primitives that neither purely traditional nor purely crypto-native systems could execute alone.

Each wbCOIN token constitutes a bearer instrument representing a pro-rata claim on Coinbase Global shares held in a segregated custody account. Transferring the token moves beneficial ownership of the underlying equity on-chain, while a licensed third-party custodian holds the actual securities. Redemption mechanisms allow token holders to burn wbCOIN and reclaim the equivalent stock through approved channels, preserving the 1:1 peg.

Institutional market makers mint new tokens by depositing shares with the custodian, then offer them on decentralized venues where global investors can buy, sell, or supply liquidity. Lending protocols accept wbCOIN as collateral for stablecoin loans, and structured product vaults incorporate it into yield-generating strategies. Arbitrageurs exploit deviations between on-chain price and the underlying Nasdaq-listed shares to tighten the peg.

Wrapped Coinbase Global tokenized stock has a total supply of 446.33 tokens. Currently, 446.33 are in circulation. With a market capitalization of $68,100.96, Wrapped Coinbase Global tokenized stock (Backed) ranks #8,461 among all cryptocurrencies.