Backed Raised $9.5 Million in a Series A Funding Round

Backed, an asset tokenization company, has recently raised $9.5 million in Series A funding, a milestone in the crypto industry's progress toward using real-world assets (RWAs) on blockchain platforms.
Leading the Funding Round
The funding round was initiated by blockchain company Gnosis and other investors, including Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic. 
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This new capital will be primarily used to expand Backed's product offering and develop partnerships with asset management companies. By focusing on the development of exchange-traded products (ETPs), such as the iShares USD Treasury Bond 1-3yr tokenized shares, Backed aims to increase the accessibility and efficiency of global financial markets, which are often considered fragmented.
Regulatory Compliance
Backed has already made significant strides in its journey, issuing over USD 50 million in tokenized assets. This success is a testament to Backed's commitment to regulatory compliance and its dedication to operating within the developing law, a factor that should pique the interest of those following the crypto industry. 
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Industry leaders have not only recognized but also expressed optimism about the potential impact of Backed's initiatives. Yubin Kang, CEO of Nonce Classic, commented on the transformative importance of integrating RWAs into the chain to address market fragmentation and improve efficiency, a sentiment shared by many in the industry.
Future Prospects for Financial Markets
Overall, Backed's recent fundraising and further expansion plans reflect a growing trend in the crypto industry to integrate traditional financial assets into the blockchain, offering a promising outlook for the future of financial markets and asset management through tokenization.