Backed, a Switzerland-based tokenized asset issuer, has raised $9.5 million in a funding round led by Gnosis. The company aims to speed up its private tokenization offering and onboard asset managers to blockchain rails with the investment. Tokenization of real-world assets is becoming increasingly popular, with the market for RWAs predicted to reach $10 trillion by the end of the decade. Backed has already issued over $50 million worth of tokenized RWAs, including ERC-20 compatible token versions of exchange-traded funds and individual stocks like Coinbase and Tesla.
Backed raises $9.5 million in funding round led by Gnosis for tokenization of real-world assets
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