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About Backed
Backed is a company that issues tokenized stocks and ETFs, with products including xStocks and bTokens. These tokens are backed 1:1 by physical assets, allowing users to trade and combine them freely on-chain, enabling 24/7 trading. Its core competitiveness lies in its compliance framework and on-chain composability, addressing issues such as limited trading hours, low liquidity, and poor composability in traditional finance.
In the past six months, xStocks has grown rapidly on Solana, reaching $437 million in on-chain value, making it the largest tokenized stock issuer. However, bTokens has ceased new issuance, and related DeFi integrations have been gradually shut down, leading to a significant drop in liquidity and potential exit difficulties for holders.
Co-founders: Adam Levi (PhD in physics; ex-CTO of DAOstack; founded xStocks and Backed, driving tokenization of stocks/ETFs); Yehonatan Goldman (multidisciplinary product/operations expert; ex-COO of DAOstack; currently Director of Business Operations at xStocks and co-founder of Backed); Roberto Klein (co-founder of Backed, advancing real-world asset tokenization).
Core executives: Yotam Katznelson (CTO & COO); Jerome Dickinson (General Counsel & Head of AML; UK/US-qualified lawyer focused on EU payments, financial and crypto regulation; former Board member of Blockchain for Europe); David Henderson (Head of Growth).