This is a wrapped version of the $LEO token from Leofinance. It resides on the Binance Smart Chain (BSC).
It is tied to the Cubfinance application. There is a liquidity pool where it is traded against $BNB.
$bLEO is created by using LeoBridge, which is a cross-chain application. The user feeds $LEO into the bridge and $bLEO is placed in the associated EVM wallet.