Backed Finance was founded in early 2021. We raised our seed round in May 2021 with support from Gnosis, Semantic Ventures, and Stratos technologies.
Backed Finance is the gateway for tokenized stocks and equities on the blockchain. Backed issues tokens that represent the value of a financial asset. For each minted token, Backed buys the underlying asset (1-to-1) and holds it via a licensed custodian. Eligible token holders can redeem their tokens for the market value of the underlying asset.
We chose to first build on Ethereum, the most robust crypto network today. This will allow our users to maximize the usability of Backed tokens across the DeFi ecosystem and also migrate them to other chains through existing bridges.
Backed helps financial platforms offer access to tokenized stocks without compromising on compliance and functionality.
Our mission is to make capital markets more accessible and equitable for all. We work towards bridging more assets on to a new and open financial system, Increasing their value characteristics and enabling a behavioral shift in investing, trading, and wealth generation.
Backed Tokens
ERC20 tokens that track the value of shares like TSLA, AAPL or SPY, and are 100% backed by the underlying asset. A new asset class for the decentralized economy.
Backed assets are:
Fully-backed — Tokens are backed 1-to-1 with their underlying asset.
Compliant — Operates within a compliant regulatory framework based on the Swiss DLT act.
DeFi compatible — Since Backed tokens are ERC20, users will benefit fully from DeFi’s strengths:
- Accessible — Available around the world, 24/7.
- Efficient — No need to wait for cash transfers, T+2 or other inefficiencies. Simply trade a $TSLA <> $USDC pair.
- Composable — Every protocol that uses ERC20 can potentially work with Backed tokens.
- Innovative — DeFi is the nexus of financial innovation today, and Backed users will benefit from that in the years to come.
