JMKEx (Jersey Mike's Subs xStock) is a tokenized equity product issued by Backed Assets, part of the xStocks family of tokenized stocks developed by Backed Finance. Each JMKEx token is a tracker certificate (ISIN CH1588658554) that tracks the price of Jersey Mike's Subs common stock. The product is fully collateralized: for every token in circulation, the issuer holds the corresponding underlying security on a one-to-one basis with regulated third-party custodians, and collateralization can be verified through a public on-chain proof-of-reserves feed. JMKEx is issued under an EU-approved prospectus and is deployed as a freely transferable token on multiple networks, including Ethereum, Solana, Arbitrum, Optimism, BNB Chain, Ink, Mantle, X Layer, HyperEVM and TON, giving eligible holders on-chain price exposure to Jersey Mike's equity with the transferability of a standard crypto token.