Ethereum

Cardano

2024

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DeFi

<div class="finbold">
 <p class="paragraph">Backed Finance AG, a leading issuer of tokenized real-world assets and tokenization services, announced a successful Series A funding round, having secured $9.5 million.&nbsp;</p>
 <p class="paragraph">Led by Gnosis, the funding round attracted both existing and new investors including Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic.</p>
 <h2 class="wp-block-heading" id="h-backed-brings-traditional-finance-to-blockchain">Backed brings traditional finance to blockchain</h2>
 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> highlights Backed’s mission to bring traditional finance (TradFi) to the blockchain.</p>
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 <p class="paragraph">Adam Levi, Backed co-founder, expressed excitement about the investment <a rel="noopener noreferrer nofollow" title="round" href="https://thebittimes.com/tag/round.html">round</a>, stating:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“We are thrilled to have secured this significant investment <a rel="noopener noreferrer nofollow" title="round" href="https://thebittimes.com/tag/round.html">round</a>, with strong participation from both new and existing investors. This <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> is a testament to the potential of tokenization, and will allow us to build new products suited to the needs of institutional clients.”</p>
 </blockquote>
 <p class="paragraph">Tokenization has become a prominent narrative in the crypto space, with blockchain technology finding its main use case in this area.&nbsp;</p>
 <p class="paragraph">The raised capital will accelerate the company’s private tokenization offerings, helping bring asset managers onto blockchain infrastructure.</p>
 <h2 class="wp-block-heading" id="h-new-tokenization-solutions-in-tradfi-and-defi">New tokenization solutions in TradFi and DeFi</h2>
 <p class="paragraph">Nonce Classic CEO, Youbin Kang, commented on the significance of Backed’s mission, stating:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Global financial markets are fragmented, hindering accessibility and efficiency. Backed aims to solve these issues by bringing RWAs on-chain. With deep expertise in regulation, technology, and crypto, Backed is poised to lead tokenization innovation in both TradFi and DeFi. At Nonce Classic, we’re eager to promote the RWA market in Korea and support Backed’s global expansion.”</p>
 </blockquote>
 <p class="paragraph">Recently, Backed unveiled an expansive suite of services providing tokenization solutions for institutions that will allow them to securely and efficiently issue tokenized assets.</p>
 <p class="paragraph">Walt Smith, an investor at cyber•Fund, highlighted the historic inefficiencies of traditional settlement systems, stating:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“For decades settlement has increased cost, heightened inefficiencies, birthed novel risks, and ultimately gate-kept most of the world from accessing and benefiting from markets. Compliant tokenization on credibly neutral networks like Ethereum marks the end of these issues and the beginning of a new era of digital, global commerce.”</p>
 </blockquote>
 <p class="paragraph">Backed’s tokenized assets, known as bTokens, focus on being composable and interoperable.&nbsp;</p>
 <p class="paragraph">They are issued as permissionless ERC-20 tokens and have been utilized as stablecoin collateral by Angle Protocol’s new USD stablecoin USDA, as well as to create real-world yield vaults on MorphoBlue.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/backed-finance-ag-secures-9-5-million-in-a-series-a-funding-round-tbt87049.html">https://thebittimes.com/backed-finance-ag-secures-9-5-million-in-a-series-a-funding-round-tbt87049.html</a></p>

Backed Finance AG secures $9.5 million in a Series A funding round

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