---
title: "Backed GOVIES 0-6 months EURO investment grade (bC3M) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/bc3m-backed/"
description: "Build-time stablecoin profile for Backed GOVIES 0-6 months EURO investment grade (bC3M). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-09-07"
---



# Backed GOVIES 0-6 months EURO investment grade (bC3M)

**Peg:** Euro

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

bC3M is Backed Finance's EUR-denominated, NAV-accreting tracker certificate for the Amundi GOVIES 0-6 Months Euro Investment Grade UCITS ETF, KYC-gated and registered under the Swiss DLT Act, which makes it one of the few EUR-pegged {{term:rwa}}RWA{{/term}} tokens in Pharos and economically the euro analogue of a {{term:treasury}}Treasury-bond{{/term}} tracker. Same framework as bIB01, same KYC-gated primary issuance through Backed and KYC-gated {{term:redemption}}redemption{{/term}}, same Uniswap / CoW secondary liquidity surfaces. Reserves are proven daily through a Chainlink Proof of Reserve feed that publishes the ETF share count, but Backed does not publish a product-specific administered NAV method or a dated reserve-to-liability reconciliation, which bounds the backing review. bC3M holds a N/A overall grade and the exit pillar is the weakest of the three, because primary redemption is eligibility-gated and the secondary venues do not change that on the card. Pharos tracks the Ethereum supply contract first; Backed also publishes the asset at the same address on Arbitrum, Avalanche, Base, BNB Chain, Polygon, and Gnosis.

## Collateral

Tracker certificate fully backed by the AMUNDI ETF GOVIES 0-6 MONTHS EUROMTS INVESTMENT GRADE UCITS ETF, held in segregated custody and administered by Backed Assets (Jersey) Limited under Swiss DLT Act framework

## Peg Mechanism

EUR-denominated NAV-accreting tracker token (not pegged to €1); price reflects the underlying short-term Eurozone government bond ETF NAV with continuous yield accrual; new issuance closed; KYC-gated redemption remains supported by Backed during the announced wind-down; secondary liquidity on Uniswap and CoW Protocol

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Jersey | JFSC | Swiss DLT Act registered uncertificated securities |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| gnosis | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| base | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| polygon | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| bsc | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| arbitrum | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| avalanche | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |
| fantom | `0x2f123cf3f37ce3328cc9b5b8415f9ec5109b45e7` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/bc3m-backed.