As the industry-standard decentralized computing platform, Chainlink has enabled over $15 trillion in transaction value throughout the web3 economy. Leading DeFi protocols, DEXs, and traditional financial institutions are integrating Chainlink’s oracle services to create and secure tokenized real-world assets (RWAs) capable of scaling onchain finance to billions of global users.
Today, Backed, a Swiss startup bridging the gap between DeFi and TradFi by bringing RWAs onchain, announced it’s utilizing Chainlink’s full stack of essential tokenization infrastructure – Data Feeds, Proof of Reserve (PoR), and Cross-Chain Interoperability Protocol (CCIP) – to enhance the utility and liquidity of its RWAs.
Backed issues compliant onchain tokens that track the value of real-world assets including stocks and ETFs. These tokenized RWAs are freely transferable across wallets and fully collateralized by the underlying asset.
Tokenized RWAs offer unique onchain utility such as atomic settlement, fractionalization, programmability, and the ability to serve as a unified golden record that combines ownership rights and vital data into a single continuously updated smart contract. In order to unlock their full potential as superior financial instruments, tokenized RWAs require secure and reliable data, proof of reserves, and cross-chain connectivity.
Chainlink Data Feeds provide tokenized RWAs with high-quality offchain data such as market price, reference, and identity data. PoR leverages Chainlink oracles to verify in real time that onchain assets are fully collateralized by offchain real-world assets. CCIP unlocks new markets and use cases for tokenized RWAs by allowing them to flow freely between public and private blockchains with the highest level of cross-chain security and a separate Risk Management Network.
“We’re thrilled to fully integrate Chainlink’s essential tokenized asset infrastructure,” said Backed co-founder, Adam Levi, in an official announcement. “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.”
“We are excited that Backed is now fully-platformed on Chainlink’s essential tokenized asset infrastructure,” said Colin Cunningham, Head of Tokenization & Alliances at Chainlink Labs. “We look forward to seeing how they will leverage this integration to access the Chainlink Ecosystem for enhanced tokenized RWAs.”
To learn more about Backed, visit their website, X, and Telegram.