Wrapped bTSLAPrice

(WBTSLA)

Wrapped bTSLA (wbtsla) is a tokenized version of Tesla Inc. (TSLA) common stock. Issued by Backed Finance, it is a tracker certificate designed to mirror the price of Tesla shares 1:1. It allows blockchain users to gain exposure to equity markets within a decentralized ecosystem. It functions as an ERC-20 token, bridging the gap between traditional finance and the crypto world without requiring users to leave the blockchain.

Every wbtsla token is backed 1:1 by physical Tesla shares held by licensed custodians. It is a MiFID II-compliant financial product issued under an approved EU prospectus, making it a regulated security. To ensure security, assets are kept in segregated accounts, meaning the collateral is bankruptcy-remote from the issuer, ensuring token holders have a legal claim on the underlying assets even if the issuer faces financial distress.

Technically, no. wbtsla is a tracker certificate in tokenized form rather than direct share ownership. While it tracks the share price and is backed by the actual stock, holding the token does not grant direct voting rights in Tesla Inc. Institutional clients may access voting rights through specific legal conversion processes, but for most retail users, it serves primarily as a price-tracking investment tool.

wbtsla can be traded on major exchanges such as LBank and various decentralized platforms. However, due to regulatory restrictions, it is not offered, sold, or delivered to U.S. persons. While trading on secondary markets may not require immediate identity verification, direct issuance or redemption through the official platform requires a full KYC/KYB process to ensure compliance with international financial regulations.

Eligible non-U.S. holders can redeem their tokens for the market value of the underlying asset. This value is typically settled in stablecoins or fiat currency. Redemptions are generally processed within three business days (T+3). This provides a reliable exit mechanism for investors wanting to move their holdings from the blockchain back into traditional financial formats or liquidity.

wbtsla utilizes a proxy contract structure, which allows the issuer to update the code for security patches or regulatory compliance. While this flexibility ensures the token remains secure and legally compliant, it also means the contract owner retains significant control. Users often monitor these contracts for transparency, as the ability to upgrade the contract is a common feature in regulated real-world asset (RWA) tokens.