Series A investment round for Backed Finance AG raises $9.5 million


The industry-leading tokenization provider Backed Finance AG has announced a successful Series A investment round, raising $9.5 million. The company issues tokens representing real-world assets and offers tokenization services.

Under Gnosis’s leadership, the investment round drew in both new and returning investors, including Nonce Classic, Blue Bay Capital, Blockchain Founders Fund, Mindset Ventures, Exor Seeds, and Cyber Fund.

The investment demonstrates Backed’s commitment to its goal of bringing conventional finance (TradFi) to the blockchain.

Backed co-founder Adam Levi was enthusiastic about the funding round and said: “We are delighted to have raised a substantial amount of capital from this round of investors, both new and old. We are able to create new solutions that cater to the demands of institutional customers thanks to this investment, which is a proof of the potential of tokenization.”

As the primary use of blockchain technology, tokenization has recently emerged as a major storyline in the cryptocurrency market.

In order to get asset managers on board with blockchain technology, the funds will speed up the company’s private tokenization offers.

When asked about the importance of Backed’s mission, Youbin Kang, CEO of Nonce Classic, said: “The disjointed nature of the world’s financial markets makes them difficult to use and less efficient overall. By putting RWAs on-chain, Backed hopes to resolve these difficulties. Backed is well-positioned to spearhead tokenization innovation in both TradFi and DeFi because to its extensive knowledge of crypto, technology, and regulations. Our team at Nonce Classic is excited to help Backed expand internationally while also promoting the RWA market in Korea.”

Institutions may now issue tokenized assets in a safe and efficient manner with the help of Backed’s new range of services that provide tokenization solutions.

According to cyber•Fund investor Walt Smith, who brought attention to the long-standing inefficiencies of conventional payment methods,

Settlement has raised prices for decades, made things less efficient, introduced new dangers, and, in the end, prevented most of the globe from enjoying the fruits of markets. A new age of digital, global trade is about to begin with compliant tokenization on truly neutral networks like Ethereum, which puts a stop to these concerns.

The bTokens, the tokenized assets of Backed, prioritise composability and interoperability. Angle Protocol’s new USD stablecoin, USDA, and real-world yield vaults on MorphoBlue have both made use of these permissionless ERC-20 tokens as collateral.

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