Backed, a real-world asset tokenization platform, has unveiled a new range of services for tokenization at institutional levels, according to the information shared with Finbold on March 22.
The new tokenization platform is designed to empower financial institutions to issue tokenized assets securely and efficiently.
Compliance and trust in tokenization
Adam Levi, co-founder of Backed, emphasized the importance of compliance and reliability alongside the usual technological innovation in tokenization solutions, stating:
“The problem with current tokenization solutions is they are all focused on tech, when in reality, compliance and trust are just as important. We already have tokenized products on the market, and this resulted in institutions approaching us to tokenize their private funds and products. We understand the unique challenges and requirements institutions face when entering the digital asset space, and we are uniquely placed to shepherd them through the process from beginning to end. Our mission is to bridge the gap between TradFi and DeFi by providing a flexible, efficient, and secure tokenization platform that streamlines the process and unlocks the full potential of the blockchain.”
– Adam Levi, co-founder of Backed
Backed’s tokenization services includes Tokenized Trackers, facilitating the issuance of on-chain trackers for individual publicly traded securities or thematic baskets.
The company streamlines the token creation process, delivering blockchain and decentralized finance (DeFi) ready products in a matter of weeks.
In addition, Backed offers Tokenized Actively Managed Certificates (AMCs), representing investment strategies directly on the blockchain, and simplifying problems such as settlement and verifying ownership.
Moreover, Backed provides a Tokenization Platform, giving funds and financial institutions solutions for creating, managing, and distributing tokenized investment products.
Tokenization and global economy
The potential of tokenization to transform the global economy has been a topic of discussion for a while now.
Larry Fink, CEO of BlackRock, famously predicted that the “next step going forward will be the tokenization of financial assets.”
The benefits of tokenization are many, including increased efficiency and transparency during transactions as well as broadening market access for diverse investors.
A joint report by FinPlanet, Cashlink, and Porsche Consulting estimated that tokenization could reduce costs associated with traditional financial processes by up to 85%.
