COIN Tokenized Stock — Daily Reference Mark

Solana xStocks — issued by Backed Assets (JE) Limited (Jersey SPV; JFSC COBO/CGPO consents; wholly owned by Backed Finance AG)

Legal form

Bearer debt instrument and fully collateralized tracker certificate governed by Swiss law; EU/EEA distribution under a base prospectus approved by the Liechtenstein FMA

Backing

Backed 1:1 by the corresponding underlying security held with regulated custodians/brokers in segregated product sub-accounts; collateral is subject to an Account Control Agreement with an independent Security Agent

Underlying reference

Coinbase Global, Inc. Class A common stock (NASDAQ: COIN)

Holder rights

no voting rights or direct shareholder rights in the underlying issuer; holding the token constitutes holding the tracker certificate and its secured economic claim under the prospectus; cash dividends are reinvested net of applicable withholding tax into additional underlying shares and reflected through an onchain multiplier; stock splits and reverse splits are reflected through the same multiplier mechanism

Redemption

Issuer-onboarded holders may redeem at underlying market value through the supported primary-market flows after KYC/AML and wallet whitelisting; Alpaca-onboarded xPort users may redeem in kind into shares. Product issuance/redemption fees may be up to 0.50%; other holders generally exit through secondary venues.

Key risks

limited-recourse issuer and structure risk despite asset-by-asset collateralization; no shareholder governance rights; economic exposure is through a tracker certificate; secondary-market liquidity, after-hours basis, and depeg risk versus the underlying security; dividend reinvestment is net of withholding tax and depends on correct multiplier updates; legal eligibility restrictions remain enforceable despite technically permissionless transfers

Curated from issuer terms; last reviewed 2026-08-01.

Robinhood Chain (Uniswap v4) — issued by Robinhood Assets (Jersey) Limited (Jersey company no. 162428; issuer and tokenizer under the 2026 Tokenised Products Programme)

Legal form

Tokenized debt security: a ledger-based, fully collateralized tracker-certificate unit under Swiss law, governed by Robinhood Assets (Jersey) Limited's FMA-approved base prospectus and the series Final Terms

Backing

Each Series is fully collateralized. Robinhood states each token in circulation is backed 1:1 by the corresponding equity or ETF held by US broker/custodian Alpaca Securities; the base prospectus permits the applicable Final Terms to specify underlying shares, cash, or eligible replacement collateral, with Security Agent Services AG acting as security and verification agent.

Underlying reference

Coinbase Global, Inc. Class A common stock (NASDAQ: COIN)

Holder rights

no voting rights, direct ownership, or other legal or beneficial rights against the underlying company's issuer; limited-recourse secured claim under the token prospectus rather than a shareholder claim; cash dividends are reinvested into additional underlying shares and reflected through the token's onchain multiplier; corporate actions may temporarily pause trading or require adjustments to the token terms

Redemption

Investors may sell to an Authorised Participant or in the secondary market. A non-Authorised-Participant may redeem directly with the issuer only when a Direct Investor Redemption Condition in the prospectus is met (for example, no Authorised Participant is available), after KYC/AML. The published investor fee is 0% for the first 90 days after issuance and 0.05% thereafter, subject to change within the Final Terms limits.

Key risks

limited-recourse issuer and collateral-enforcement risk despite full collateralization; no shareholder rights; economic exposure is through a debt tracker certificate; secondary-market liquidity and price-deviation risk, especially outside underlying-market hours; issuer-controlled freeze, block, pause, upgrade, and seizure functions; corporate-action processing can pause trading and cancel open orders

Curated from issuer terms; last reviewed 2026-08-01.