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Tokenized Asset Issuer Backed Raises $9.5M as Crypto’s RWA Race Heats Up

Apr 29, 2024
  • Switzerland-based Backed closed a $9.5 million fundraising round led by Gnosis.
  • Tokenized real-world assets could swell to a $10 trillion market by the end of the decade, one asset management company forecasted.
As an experienced financial analyst, I believe that the recent $9.5 million funding round led by Gnosis for Backed is a significant development in the tokenization of real-world assets (RWA) market. With participation from other notable investors like Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, and Blue Bay Capital, this investment will enable Backed to accelerate its private tokenization offering and onboard more asset managers to the blockchain rails.As a tokenized asset issuer at Backed, I’m pleased to announce that we successfully secured $9.5 million in our latest funding round, with Gnosis leading the investment.

As a financial analyst, I’d like to share that I’ve identified several venture capital firms contributing to a particular investment round. These include Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic. Each firm brings unique expertise and resources to the table, collectively enhancing the potential success of the investment.

The press release states that the company intends to accelerate the rollout of its private tokenization service and bring in asset managers using blockchain technology with this investment.

The investment represents a significant move as the tokenization of real-world assets (RWA) gains popularity in the digital asset sector. Crypto companies and leading players from banking and asset management are competing to transfer traditional financial products such as bonds, funds, and credit onto blockchains.
Tokenization could offer benefits compared to traditional financial rails such as increased efficiency in settling trades, broader access for investors and lower administration burden. The market for RWAs could swell to $10 trillion by the end of the decade, asset manager 21.co’s report forecasted last year.

Based in Switzerland and backed by regulation, this platform provides tokenization services and has issued over $50 million worth of tokens. These tokens represent exchange-traded funds (ETFs) and individual stocks like Coinbase (COIN) and Tesla (TSLA), available as ERC-20 compatible tokens on their website.

As a researcher studying global financial markets, I’ve observed that these markets are fragmented, making accessibility and efficiency a challenge. However, with my role as CEO of Nonce Classic, an investing firm, I’ve come across Backed, a promising solution. Backed intends to address this issue by transitioning Reinsurance Asset Watches (RWAs) onto the blockchain.

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2024-04-30 16:16