We’re excited to announce that, a tokenized asset issuer, has chosen Fordefi as their MPC wallet to support ongoing tokenization-as-a-service operations. Backed was in search of an institutional-grade solution that would enable them to programmatically scale their on-chain transactions, as well as manage both the signing process and end-to-end transaction lifecycle.

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Backed: Bringing The Global Financial System On-Chain

Backed was established in 2021 by co-founders Adam Levi, Roberto Klein, and Yehonatan Goldman. Backed’s mission is to make capital markets more accessible and equitable. Backed bridges real-world assets (RWAs) to a new, open financial system, adding to their value and changing how people trade, invest, and manage wealth.

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Backed has since launched several popular products including tokenized government and corporate bonds and tokenized equities such as coinbase stock. Backed’s role as a tokenized asset issuer requires their infrastructure to act as the bridge between RWAs and digital assets. Backed’s focus on regulatory compliance, digital asset security, and active on-chain operations necessitated a wallet platform capable of supporting Backed’s diverse requirements.

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“Tokenized real-word assets are an exciting development in DeFi,” said , CTO and Co-founder of Fordefi. “Backed has been a pioneer in this space and we are fortunate to be their infrastructure partners, contributing to the security and availability of their services.”

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Why Backed Chose Fordefi’s MPC Wallet & Security Platform

Wallet APIs

A primary objective of Backed is to minimize human involvement within their operations. They aim to achieve full automation of their processes from wallet generation, to ensuring compliant workflows, to back office operations. Fordefi’s suite of APIs enables Backed to progress towards this objective by utilizing APIs to swiftly generate wallets, authorize transactions, and automate token sweeping. In addition, Fordefi’s extensive blockchain connectivity empowers Backed to seamlessly conduct their DeFi transactions across various chains and decentralized applications (dApps), all via API.

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MPC Signing & Transaction Lifecycle

Another objective of Backed was to delegate the signing process to a solution provider with a strong security reputation. Fordefi’s MPC wallet not only handles the signing process but also manages the entire transaction lifecycle. Fordefi enables Backed to easily create, track, and manage their on-chain transactions across blockchains, while keeping their digital assets unified and protected. By selecting a provider that has been battle-tested and trusted by the largest institutions in the space, Backed is not only streamlining its operations but also enhancing its security infrastructure to safeguard its assets and transactions.

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Customer Support

One of Backed’s crucial decision-making factors revolved around the quality of customer support and the expertise of teams they were considering. Backed’s tokenization-as-a-service product demanded deep DeFi, developer, and security expertise from any solution provider, a challenge Fordefi not only met but exceeded. With industry-leading support, Backed gained access to experts in MPC key management, developer tooling, and DeFi, alongside a responsive, customer-first team and a collaborative partnership.

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Scaling DeFi Operations with Fordefi’s MPC Wallet

We’re excited to continue collaborating closely with Backed as we add new features and functionalities, further tailoring our product to the needs of institutions transacting in DeFi.