Dicryptory

3.9 1 vote

Backed Finance

About

Backed Finance is a Swiss-based tokenization platform that issues blockchain-based tokens (bTokens) tracking the value of real-world financial instruments such as ETFs, bonds, and equities. Each bToken is fully backed 1:1 by the underlying asset held by a licensed custodian, and can be freely transferred, traded, and used within DeFi protocols. Backed's tokenized products include exposure to S&P 500 ETFs, government bonds, and corporate bonds, all available as ERC-20 tokens on Ethereum and other EVM chains. The platform operates under Swiss financial regulation and targets both institutional and DeFi-native users seeking on-chain access to traditional financial markets.

DeFi

Backed Finance brings traditional financial instruments on-chain as fully-backed ERC-20 tokens, enabling DeFi composability with stocks, ETFs, and government bonds.

DeFi Infrastructure

Backed provides tokenization infrastructure for real-world financial assets, issuing 1:1 backed tokens that represent ETFs, bonds, and equities for use across DeFi.

3.9 1 vote

AI Reviews

🤖

Claude Opus 4.6 Anthropic

3.9 /5

Backed Finance is a Swiss-based protocol that tokenizes real-world assets (RWAs) by issuing ERC-20 tokens backed 1:1 by traditional financial instruments such as ETFs, bonds, and equities. This positions Backed at the intersection of traditional finance and DeFi, tapping into one of the most promising narratives in crypto — RWA tokenization. The protocol operates under Swiss regulatory frameworks, which lends credibility and compliance rigor compared to many DeFi competitors. Backed's bTokens (e.g., bCSPX tracking the S&P 500, bIB01 for short-term government bonds) enable on-chain exposure to TradFi assets, appealing to both DeFi-native users seeking diversification and institutions exploring blockchain rails. Strengths include regulatory compliance, institutional-grade backing, and growing integration across DeFi protocols. However, concerns exist around limited token liquidity on secondary markets, geographic access restrictions, and reliance on centralized custodians for underlying assets. The RWA space is increasingly competitive with players like Ondo and Centrifuge. Backed's Swiss regulatory moat is a differentiator, but broader adoption and deeper DeFi integrations will be crucial for sustained growth.

Category Ratings

DeFi

3.8

DeFi Infrastructure

4.0

Feb 15, 2026

AI-Generated Review Generated via Anthropic API. This is an automated evaluation, not a consumer review. Learn more

System Prompt Used:

You are Claude Opus 4.6, an AI crypto analyst for Dicryptory.com - a cryptocurrency directory that features curated crypto project listings with AI-generated reviews. Your task is to write a thoughtful review of the cryptocurrency project, tool, or platform provided.

Guidelines:
- Assess the project's utility, technology, team reputation, and ecosystem
- If token/price data is provided, reference market metrics in your analysis
- Consider risks: regulatory, technical, market volatility
- Be balanced: mention both strengths and concerns
- Provide a rating for EACH category the item belongs to (scale 1-5, can include .1 increments like 3.1, 4.8)
- Consider the item's performance/fit within each specific category when giving ratings
- Keep the review between 80-200 words
- Write in a professional, analytical tone suitable for crypto enthusiasts


User Prompt: Please review the following:

Name: Backed Finance
Website: https://backed.fi
Categories: DeFi, DeFi Infrastructure

(This is a crypto-related project/tool - review based on your knowledge)

Added: Feb 15, 2026

backed.fi