Tokenized asset issuer Backed completes $9.5 million new round of financing

ChainCatcher news, tokenized asset issuer Backed has completed a new funding round of $9.5 million, led by Gnosis, with participation from Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic. With this investment, the company aims to accelerate its entry into blockchain channels for private tokenized issuance and asset management.

According to the Web3 asset data platform RootData, Backed is the infrastructure for on-chain capital markets, connecting real-world assets to the blockchain. Backed issues ERC-20 tokens that track the value of real-world assets, such as stocks or ETFs. The tokens can be freely transferred across wallets, are fully collateralized by the underlying assets, and are issued in accordance with the Swiss DLT law.