rwa

Backed Finance

Backed Finance AG

Backed Finance issues bTokens — fully-backed tokenized representations of traditional securities (Apple, Tesla, S&P 500 ETF, etc.) holdable in self-custody and tradable on DEXs.

Official site Documentation Updated today
Scale
Updated 1d ago
TVL
$210.0M
Listed bTokens
60+
Total assets
$210M
Company

Backed Finance AG

Country
Switzerland
HQ
Zürich
Founded
Aug 1, 2021
Structure
private
Key people
  • Adam Levi CEO
Timeline

Timeline

  1. Oct 1, 2022
    Backed launches first bTokens
  2. Nov 10, 2023
    Aave V3 lists bTokens as collateral
Funding and investors

Funding and investors

Total raised: $21.5M
Investors
Coinbase VenturesSemantic VenturesDistributed Capital
Rounds
Apr 15, 2022 Seed $9.5M Distributed Capital, Semantic Ventures
Jun 10, 2024 Series A $12.0M Coinbase Ventures
Products

Products

Own products
  • bIB01 (1-3yr Treasury ETF)
  • bCSPX (S&P 500)
  • bNVDA, bTSLA, bAAPL (single stocks)
  • bHIGH (high-yield bond ETF)
Integrations
  • Aave V3
  • Uniswap
  • Curve
Stablecoins and chains

Stablecoins and chains

Chains
ethereum polygon base arbitrum
Security and audits

Security and audits

Audits
  • ChainSecurity Aug 15, 2023 bToken contracts + redemption flow
Risk notes

Risk notes

  • ● Issuer credit risk (Backed AG bankruptcy)
  • ● Limited liquidity vs CEX-listed underlying
  • ● Regulatory uncertainty in non-EU jurisdictions
Competitors

Competitors

Swarm MarketsDinariMaple Finance
Resources

Resources

Notes

For deeper context on Backed Finance’s role in stablecoin commerce, see the blog and the stablecoins index.