Unveiling Backed Finance AGโs Successful Series A Funding Round ๐
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 ๐
Backedโs 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 Leviโs Excitement: Co-founder Adam Levi expressed enthusiasm for the investment, highlighting the potential of tokenization to cater to institutional clientsโ needs.
Innovative Tokenization Solutions for TradFi and DeFi ๐ก
Nonce Classic CEO, Youbin Kang, emphasized the importance of Backedโs 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 Smithโs 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 ๐ก๏ธ
Backedโs 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 Protocolโs USDA stablecoin and real-world yield vaults on MorphoBlue.
Closing Thoughts on Backedโs Funding Success ๐
Backed Finance AGโs 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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