Swiss Tokenization Platform Secures $9.5 Million to Revolutionize Real-World Asset Tokenization

Swiss tokenization platform Backed raises $9.5 million to accelerate the development of its private tokenization platform as asset managers, bond issuers and credit providers increasingly turn to blockchain to expand their offerings.

Switzerland-Based Tokenization Platform Backed Secures $9.5 Million in Funding to Accelerate Development

Zurich, Switzerland – Backed AG, a leading tokenization platform for real-world assets (RWAs), has announced the successful conclusion of a $9.5 million funding round. The round was led by Gnosis, a prominent blockchain technology provider, with participation from a consortium of reputable investors, including Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic.

This substantial investment is a testament to the growing demand for RWA tokenization and Backed's position as a pioneer in this transformative industry. The company will allocate the funds towards the accelerated development of its platform, which aims to simplify the process of onboarding asset managers and financial institutions to the blockchain.

"This funding round is a significant milestone for Backed," said Guy Melamed, CEO of Backed. "It validates our vision of making real-world assets more accessible, efficient, and transparent through the power of blockchain technology. The capital will enable us to strengthen our platform, expand our partnerships, and drive the adoption of tokenization across the financial sector."

RWA tokenization has emerged as a critical area of innovation within the financial industry. By converting traditional assets, such as stocks, bonds, and real estate, into digital tokens on the blockchain, asset managers, bond issuers, and credit providers can unlock new opportunities for growth and efficiency.

The blockchain offers several advantages for asset tokenization, including increased transparency, reduced transaction costs, faster settlement times, and the ability to fractionalize ownership. As a result, leading financial institutions worldwide, including JPMorgan, Ant Group, HSBC, and Mastercard, have invested heavily in this space.

"The tokenization of real-world assets is poised to revolutionize the financial industry," commented Youbin Kang, Chief Executive of Nonce Classic, one of the venture firms that participated in the funding round. "By bringing traditional assets onto the blockchain, Backed addresses the fragmentation and inefficiencies prevalent in global financial markets, paving the way for a more accessible, inclusive, and efficient financial system."

Backed's platform has already tokenized $50 million worth of RWAs, including exchange-traded funds, Treasury instruments, and equities such as the S&P 500, Coinbase, and Tesla. The platform's user-friendly interface and robust security features have positioned Backed as a preferred partner for asset managers and financial institutions seeking to embrace tokenization.

The successful completion of this funding round underscores Backed's commitment to driving the adoption of RWA tokenization. The company's proven platform, coupled with the support of a renowned group of investors, positions Backed to play a significant role in shaping the future of the financial industry.