Unveiling Backed Finance AG’s Successful Series A Funding Round 🚀
Backed Finance AG, a prominent issuer of tokenized real-world assets and tokenization services, recently announced the successful completion of its Series A funding round, securing an impressive $9.5 million.
Traditional Finance Enters the Blockchain Arena 🌐
Backed’s objective is to bridge the gap between traditional finance (TradFi) and blockchain technology, revolutionizing the way assets are managed and exchanged in the digital era.
- Investor Support: Gnosis led the funding round, with contributions from established investors such as Exor Seeds, Cyber Fund, and more.
- Adam Levi’s Excitement: Co-founder Adam Levi expressed enthusiasm for the investment, highlighting the potential of tokenization to cater to institutional clients’ needs.
Innovative Tokenization Solutions for TradFi and DeFi 💡
Nonce Classic CEO, Youbin Kang, emphasized the importance of Backed’s mission to streamline global financial markets by tokenizing real-world assets.
With a focus on both TradFi and DeFi sectors, Backed aims to lead the way in tokenization innovations, enhancing accessibility and efficiency for investors worldwide.
- Tokenization Services: Backed recently introduced a range of services to facilitate secure and efficient issuance of tokenized assets by institutions.
- Walt Smith’s Perspective: Investor Walt Smith highlighted the inefficiencies of traditional settlement systems, signaling a shift towards digital commerce through compliant tokenization.
Advancing Tokenized Assets through bTokens 🛡️
Backed’s tokenized assets, known as bTokens, are designed to be composable and interoperable, offering a seamless experience for investors seeking stablecoin collateral and yield vaults.
- ERC-20 Tokens: The bTokens are issued as permissionless ERC-20 tokens, supporting initiatives such as Angle Protocol’s USDA stablecoin and real-world yield vaults on MorphoBlue.
Closing Thoughts on Backed’s Funding Success 🌟
Backed Finance AG’s recent Series A funding round underscores the growing interest in tokenization and its potential to transform the financial landscape. By merging traditional finance with blockchain technology, Backed is pioneering innovative solutions that cater to the evolving needs of institutional clients, paving the way for a new era of digital commerce.
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