We’re excited to announce that Backed is utilizing Chainlink's full stack of tokenized RWA infrastructure. Backed will be using CCIP as our cross-chain infrastructure, launching next week. By integrating industry-standard Chainlink services, including Data Feeds and Proof of Reserve, with CCIP soon going live, we're enhancing the utility and liquidity of our tokenized real-world assets (RWAs). These integrations help address critical challenges in the tokenized asset economy and provide platforms and their users with transparent data to support the integration of our tokenized assets.
“We are excited that Backed is now fully-platformed on Chainlink’s essential tokenized asset infrastructure. We look forward to seeing how they will leverage this integration to access the Chainlink Ecosystem for enhanced tokenized RWAs.”—Colin Cunningham, Head of Tokenization & Alliances at Chainlink Labs
Tokenized assets present numerous benefits, however, it’s important to understand that once a tokenized asset is issued onchain, it requires a variety of additional services before it can be utilized effectively in the onchain economy. Backed’s integration with Chainlink addresses the three core challenges of tokenized assets: data, liquidity, and synchronization.
Tokenized assets need to be enriched with high-quality offchain data, which provides information about the state of the asset or information needed to facilitate a transaction, such as market pricing, reference data, and identity data. In addition, access to a reliable proof of reserves mechanism helps protect users from over-issuance attacks and manage various risks such as market value, liquidity, duration, and liability.
Backed is using Chainlink Price Feeds to access highly accurate and tamper-proof price data for tokenized RWAs and Chainlink Proof of Reserve to provide users with a transparent and trust-minimized way to confirm the collateralization of our tokenized assets.
In order to gain adoption and liquidity across chains, tokenized assets require highly secure and reliable cross-chain interoperability. With a secure interoperability solution, tokenized assets can be seamlessly transferred to any blockchain where potential users are looking to access the asset. This is especially important given the large amounts of tokenized assets held by financial institutions—the interoperability solution has to provide the highest security standards while having efficient connectivity.
Backed has integrated the industry-standard Chainlink CCIP, the only interoperability solution with level-5 cross-chain security. to empower Backed users to seamlessly transfer tokens between different blockchains, access liquidity pools spread across networks, and even make purchases via exchanges that list bTokens such as INX, eNor Securities, and Assetera on one blockchain and use those assets on another.
Once tokenized assets are in circulation, it’s vital to keep all associated data synchronized across different blockchains. This includes price data, net asset value (NAV), identity information, proof of reserves, and more. Using Chainlink as our main provider of all of these variables makes consistency and connectivity simple.
Backed is focused on bridging real-world assets onchain. Backed issues onchain tokens to qualifying persons or autherized resellers that reflect the value of physical assets like stocks and ETFs. These tokens are fully collateralized by the underlying assets. They are freely transferable between wallets, offering flexibility and liquidity in the digital space. Backed is leveraging the Chainlink platform to enhance assets, providing secure, cross-chain functionality and essential data. Chainlink CCIP, PoR, and Price Feeds ensure that tokenized stocks are fully collateralized and seamlessly transferable across blockchains, enhancing liquidity and interoperability.
By integrating Chainlink CCIP, Data Feeds, and Proof of Reserve, Backed is able to further its tokenized real-world asset initiatives by:
“We’re thrilled to fully integrate Chainlink’s essential tokenized asset infrastructure. By adopting Chainlink’s CCIP, Data Feeds, and Proof of Reserve, Backed is significantly enhancing the functionality of our tokenized assets. Chainlink’s industry-standard solutions are instrumental in advancing our vision of a seamless and transparent onchain financial ecosystem.”—Adam Levi, Co-founder at Backed
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $15 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About Backed
Backed brings real-world assets on-chain. Backed issues permissionless tokens that track the value of real-world assets and are fully collateralized by them, such as stocks or ETFs. Tokens are MiFID II-compliant financial products issued under an approved EU prospectus. Backed offers tokenization services to institutional clients, bridging the gap between TradFi and DeFi.
Backed’s native tokens are not offered, sold, or delivered within the United States, or for the account or benefit of U.S. Persons.
LinkedIn - X / Twitter - Website - Telegram Updates
