Wrapped International Business Machines xStockwIBMx
Wrapped International Business Machines xStock (wIBMx) is a token tracking IBM shares, backed by dedicated collateral, issued by xStocks through Backed Assets (JE) Limited, and distributed through Backed Finance AG with Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG, and GTN Europe Financial Services Limited as broker. The underlying security is listed in the information technology sector in North America. Each token entitles holders to dividends, which are distributed as additional tokens and carries no voting rights. The collateral assets are held by Alpaca Securities LLC, InCore Bank AG, Maerki Baumann & Co. AG, and GTN Europe Financial Services Limited in segregated accounts within a bankruptcy-remote structure. Retail investors, professional investors, and qualified investors worldwide can mint and redeem directly with xStocks in USDC, USDG, and USDT after completing KYC, with a USDC 5,000 minimum and instant subscription settlement, and holders have a right to redeem at net asset value with two-to-five-business-day settlement. Residents of the United States, the United Kingdom, Canada and other jurisdictions the issuer restricts cannot mint or redeem with xStocks. Backed Assets (JE) Limited is incorporated in Jersey, is offered under an SEC Regulation S exemption, is offered under an EU-approved prospectus, is structured under the Swiss DLT Act, is issued under Jersey Financial Services Commission consent, and is supervised by the Jersey Financial Services Commission and the Financial Market Authority Liechtenstein. Holder terms are governed by the law of Jersey. wIBMx has been issued on public blockchains since July 2026 and is native to X Layer, Arbitrum One, BNB Chain, and Ethereum.