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Project Overview
Backed provides the infrastructure for capital markets to bridge real-world assets onto the blockchain. They issue ERC-20 tokens that track the value of real-world assets, such as stocks or ETFs. These tokens are freely transferable across wallets, fully collateralized by the underlying asset, and issued in compliance with the Swiss DLT act.
The Smarter Web Company Plans to Launch the UK's First Bitcoin-Backed Preferred Shares, IPO Could Raise $20 Million to $34 Million
Odaily News: The Smarter Web Company has announced plans to launch the UK's first Bitcoin-backed preferred shares, subject to shareholder approval. The company expects to raise $20 million to $34 million through a potential IPO, to be used for increasing its Bitcoin holdings and acquiring cash-flow-generating operating businesses.
Firmus Signs Multi-Year Data Center Agreement with OpenAI, Malaysia Computing Capacity Exceeds 900 Megawatts
According to The Straits Times, Australian AI infrastructure company Firmus announced a multi-year agreement with OpenAI to supply computing power from two data centers in Malaysia, establishing OpenAI as Firmus's anchor customer. Following the signing of the agreement, Firmus's contracted capacity across its global client portfolio has exceeded 900 megawatts. Backed by institutional investors including Nvidia, Jane Street, Blackstone, and Coatue Management, Firmus holds a recent valuation of over $10.5 billion. The company currently operates data centers in Australia and Singapore, with five additional facilities under development across the Asia-Pacific region. It plans to deploy Nvidia's next-generation Vera Rubin processors at scale in the Asia-Pacific.
Artificial intelligence company Humain plans to raise $2.5 billion to establish a data center investment fund.
According to Bloomberg, AI company Humain is planning to raise its first $2.5 billion in funding to establish a fund dedicated to data center investments. Sources familiar with the matter said the fund will finance 250 megawatts of data center capacity being developed in partnership with Al Moammar Information Systems, with the total scale potentially expanding to 1 gigawatt in the future. Backed by Saudi Arabia’s Public Investment Fund (PIF), Humain is advancing local AI compute and data center infrastructure to meet growing demand for AI processing.
Bullish Provides $100 Million in Funding to USD.AI to Support GPU-Backed Loans
According to CoinDesk, cryptocurrency platform Bullish will provide $100 million in stablecoin debt financing to USD.AI to support loans collateralized by GPUs and other high-performance computing assets, advancing AI infrastructure development.
AI Space Satellite Company Muon Space Closes $250 Million Series C Funding Round, Backed by Google and Others
According to Bloomberg, AI space satellite company Muon Space has announced the completion of a $250 million Series C funding round, led by Eclipse Capital, with participation from Google, Salesforce Ventures, Galvanize, Wellington Management, I Squared Capital, Woven Capital, as well as Radical Ventures and Congruent Ventures.
Discovered Materials Completes $9 Million Seed Round, Backed by Peak XV Partners and Others
: Discovered Materials announced the completion of a $9 million seed funding round, with participation from Lightspeed India Partners, Peak XV Partners, and several angel investors. The company combines AI agents with physical models to screen new heat-dissipating materials for chips at scale, targeting the high heat generation and high energy consumption challenges of AI chips in data centers. Reports indicate that AI can improve the efficiency of candidate material generation, but commercialization in this field remains constrained by factors such as material screening, synthesis validation, and manufacturing feasibility. (TechCrunch)
Tether CEO Questions BIS Push for Tokenized Bank Deposits, Says Stablecoins Are Almost Fully Backed by U.S. Treasuries
Odaily News: Stablecoin issuer Tether CEO Paolo Ardoino stated that stablecoins are a more credible form of money than tokenized bank deposits, as the former is almost fully backed by U.S. Treasuries, while the latter typically has only 10% liquid asset backing.Pablo Hernandez de Cos, General Manager of the Bank for International Settlements (BIS), said stablecoins raise concerns regarding redemption capacity, supply, interoperability, and their potential to facilitate criminal activity, adding that tokenized bank deposits represent a more direct path to preserving the foundations of the monetary system while leveraging tokenization.Ardoino noted that USDT's market capitalization has surpassed $183 billion and is used in some emerging markets for domestic and cross-border commerce. In discussions surrounding the CLARITY Act, banks have expressed concerns that allowing crypto exchanges to offer incentives on stablecoins could trigger deposit outflows. (Bitcoin.com News)
Trump Family-Backed World Liberty Financial Receives Preliminary Approval for U.S. National Trust Bank Charter
According to Bloomberg, the Trump family-backed cryptocurrency project World Liberty Financial has received preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, with plans to establish World Liberty Trust Company. Upon final approval, the institution will be able to directly issue and redeem the stablecoin USD1, manage its reserve assets, and provide digital asset custody services.
Shri Thanedar, Backed by Crypto PAC with Over $2 Million, Loses Michigan Democratic Primary
Odaily News: Michigan State Representative Donavan McKinney defeated incumbent U.S. Representative Shri Thanedar in the Democratic primary for Michigan's 13th Congressional District. As of Wednesday, McKinney held 51.9% of the vote, compared to Thanedar's 48.1%. In this primary, Protect Progress, a crypto-backed political action committee, spent over $2 million on media expenditures to support Thanedar's re-election and oppose McKinney. Protect Progress is affiliated with Fairshake, which is primarily backed by crypto companies Coinbase and Ripple. Thanedar previously voted in the House in favor of bills such as the GENIUS Act and the CLARITY Act. McKinney will face Republican candidate Taras Nykoriak in the November election.
Tether Gold-Backed Digital Asset XAU₮ Receives Sharia Compliance Certification
Tether announced that its gold-backed digital asset XAU₮ has received Sharia compliance certification from Amanah Advisors, an institution led by Mufti Faraz Adam. The certification confirms that XAU₮ adheres to the core principles of Islamic finance. XAU₮ is issued by TG Commodities, S.A. de C.V., with each full token representing direct ownership of physical gold stored in Swiss vaults. Certification requirements include genuine ownership of physical gold, clear and verifiable asset backing, no interest (riba), no leverage or speculative derivatives, and transparent reserve structures. Tether stated that XAU₮ can be used for integrating digital gold products into Islamic banking, takaful and halal savings products, long-term wealth preservation strategies, as well as tokenized trade finance and collateral applications. Amanah Advisors will continue to work with Tether to develop practical guidelines and governance frameworks to support the adoption of XAU₮ in a Sharia-compliant manner.
South Korea Unveils Roadmap for Won Internationalization, Plans Legal Framework for Won-Backed Stablecoin Issuance and Circulation
The South Korean government has released a "Roadmap for the Internationalization of the Won," aiming to transition the currency from a regulated currency to a freely convertible one. The roadmap was jointly formulated by the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, and the Korea Securities Depository. The Bank of Korea also plans to advance a tokenized treasury bond pilot project linked to an institutional CBDC (Central Bank Digital Currency). Additionally, South Korea will participate in Project Agora, an international payment initiative led by the Bank for International Settlements (BIS). (coinpost)
Pakistan's Crypto Regulator Pushes for Distinction Between Speculative Cryptocurrencies and Asset-Backed Tokens
Bilal bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), has requested Jamia Darul Uloom Karachi to clarify the distinction between speculative cryptocurrencies and asset-backed digital tokens, following the religious institution’s ruling that cryptocurrency-based purchases are not compliant with Islamic law. The ruling pertains to a consultation on using cryptocurrencies to pay for books and online course fees. Waqas Ghani, Head of Research at JS Global Capital, stated that the ruling could hinder bank-led cryptocurrency adoption in Pakistan, but trading volumes have not yet been affected. Saqib stated that PVARA is working with scholars to evaluate digital assets by category, rather than treating them as a single class. He noted that blockchain-recorded Sukuk represent ownership of real income-generating assets, while gold-backed tokens and fully-reserved stablecoins correspond to redeemable value. He added that speculative tokens without underlying assets fall into a different category, and scholars' concerns must be taken seriously. PVARA will continue to collaborate with scholars as it develops a licensing framework in Pakistan and advances efforts in stablecoins and the tokenization of real-world assets.
Better and Coinbase Launch Bitcoin-Backed Mortgage Product, Allowing Borrowers to Pay Down Payments Without Selling BTC
Odaily News - U.S. mortgage lender Better Mortgage and cryptocurrency exchange Coinbase have announced the launch of a bitcoin-backed mortgage product that allows U.S. homebuyers to use BTC as collateral for their down payment loan, eliminating the need to sell their bitcoin holdings. The product is now officially open for applications.The product consists of a Fannie Mae-backed mortgage paired with a separate down payment loan. Borrowers are required to pledge BTC valued at least 250% of the down payment loan amount, with the collateral transferred to Better's custody account on Coinbase Prime. Both loans carry the same interest rate and amortization period, and are repaid through a single monthly payment.A decline in the bitcoin price will not independently trigger a margin call or alter the mortgage terms, but if a borrower falls 60 days or more behind on payments, Better may liquidate the pledged BTC. Applicants must be U.S. residents with a verified Coinbase account, and Coinbase One members can also earn a 1% rebate of up to $10,000, which can be applied toward closing costs and fees. (Cointelegraph)
$28 Million Trump-Backed USD1 Transferred to Binance, Fireblocks Custody Completed in Three Transactions Over Past 21 Hours
Odaily News: According to Onchain Lens monitoring, Fireblocks Custody (9Ryc...4xfCxk) has deposited USD1 worth $28 million to Binance in three transactions over the past 21 hours, with amounts of $10 million, $15 million, and $3 million respectively.
World's First Bitcoin-Backed Digital Credit ETF Launches on B3, OranjeBTC Targets ~18% Annualized Yield
According to BitcoinTreasuries.NET on X, OranjeBTC (OBTC3) has launched DIGY11 on B3, Brazil's largest stock exchange — the world's first Bitcoin-backed digital credit-themed ETF. The ETF targets an annualized yield of approximately 18%, paid monthly.
The Smarter Web Company Plans to Launch the UK's First Bitcoin-Backed Preferred Shares, IPO Could Raise $20 Million to $34 Million
Odaily News: The Smarter Web Company has announced plans to launch the UK's first Bitcoin-backed preferred shares, subject to shareholder approval. The company expects to raise $20 million to $34 million through a potential IPO, to be used for increasing its Bitcoin holdings and acquiring cash-flow-generating operating businesses.
Firmus Signs Multi-Year Data Center Agreement with OpenAI, Malaysia Computing Capacity Exceeds 900 Megawatts
According to The Straits Times, Australian AI infrastructure company Firmus announced a multi-year agreement with OpenAI to supply computing power from two data centers in Malaysia, establishing OpenAI as Firmus's anchor customer. Following the signing of the agreement, Firmus's contracted capacity across its global client portfolio has exceeded 900 megawatts. Backed by institutional investors including Nvidia, Jane Street, Blackstone, and Coatue Management, Firmus holds a recent valuation of over $10.5 billion. The company currently operates data centers in Australia and Singapore, with five additional facilities under development across the Asia-Pacific region. It plans to deploy Nvidia's next-generation Vera Rubin processors at scale in the Asia-Pacific.
Artificial intelligence company Humain plans to raise $2.5 billion to establish a data center investment fund.
According to Bloomberg, AI company Humain is planning to raise its first $2.5 billion in funding to establish a fund dedicated to data center investments. Sources familiar with the matter said the fund will finance 250 megawatts of data center capacity being developed in partnership with Al Moammar Information Systems, with the total scale potentially expanding to 1 gigawatt in the future. Backed by Saudi Arabia’s Public Investment Fund (PIF), Humain is advancing local AI compute and data center infrastructure to meet growing demand for AI processing.
Ireland Launches Tax-Free Savings Account Supporting Stock and ETF Investments
According to Bloomberg, Ireland has announced a new savings account plan that allows investors to hold stocks and ETFs within the account while enjoying tax benefits. Backed by the state, the account is expected to officially launch in early next year, offering full tax exemption up to a certain threshold, with a low fixed tax rate applied to amounts exceeding it. The specific tax-free threshold and related details will be formally announced in the budget on October 6.
Tether CEO Questions BIS Push for Tokenized Bank Deposits, Says Stablecoins Are Almost Fully Backed by U.S. Treasuries
Odaily News: Stablecoin issuer Tether CEO Paolo Ardoino stated that stablecoins are a more credible form of money than tokenized bank deposits, as the former is almost fully backed by U.S. Treasuries, while the latter typically has only 10% liquid asset backing.Pablo Hernandez de Cos, General Manager of the Bank for International Settlements (BIS), said stablecoins raise concerns regarding redemption capacity, supply, interoperability, and their potential to facilitate criminal activity, adding that tokenized bank deposits represent a more direct path to preserving the foundations of the monetary system while leveraging tokenization.Ardoino noted that USDT's market capitalization has surpassed $183 billion and is used in some emerging markets for domestic and cross-border commerce. In discussions surrounding the CLARITY Act, banks have expressed concerns that allowing crypto exchanges to offer incentives on stablecoins could trigger deposit outflows. (Bitcoin.com News)
Related news
World's First Bitcoin-Backed Digital Credit ETF Launches on B3, OranjeBTC Targets ~18% Annualized Yield
According to BitcoinTreasuries.NET on X, OranjeBTC (OBTC3) has launched DIGY11 on B3, Brazil's largest stock exchange — the world's first Bitcoin-backed digital credit-themed ETF. The ETF targets an annualized yield of approximately 18%, paid monthly.
The Smarter Web Company Plans to Launch the UK's First Bitcoin-Backed Preferred Shares, IPO Could Raise $20 Million to $34 Million
Odaily News: The Smarter Web Company has announced plans to launch the UK's first Bitcoin-backed preferred shares, subject to shareholder approval. The company expects to raise $20 million to $34 million through a potential IPO, to be used for increasing its Bitcoin holdings and acquiring cash-flow-generating operating businesses.
Firmus Signs Multi-Year Data Center Agreement with OpenAI, Malaysia Computing Capacity Exceeds 900 Megawatts
According to The Straits Times, Australian AI infrastructure company Firmus announced a multi-year agreement with OpenAI to supply computing power from two data centers in Malaysia, establishing OpenAI as Firmus's anchor customer. Following the signing of the agreement, Firmus's contracted capacity across its global client portfolio has exceeded 900 megawatts. Backed by institutional investors including Nvidia, Jane Street, Blackstone, and Coatue Management, Firmus holds a recent valuation of over $10.5 billion. The company currently operates data centers in Australia and Singapore, with five additional facilities under development across the Asia-Pacific region. It plans to deploy Nvidia's next-generation Vera Rubin processors at scale in the Asia-Pacific.
Better and Coinbase Launch Bitcoin-Backed Loans with Reusable Collateral
Better partners with Coinbase to launch Bitcoin-backed loans, enhancing capital efficiency and reducing borrowers' tax burden through an innovative collateral reuse mechanism.
Artificial intelligence company Humain plans to raise $2.5 billion to establish a data center investment fund.
According to Bloomberg, AI company Humain is planning to raise its first $2.5 billion in funding to establish a fund dedicated to data center investments. Sources familiar with the matter said the fund will finance 250 megawatts of data center capacity being developed in partnership with Al Moammar Information Systems, with the total scale potentially expanding to 1 gigawatt in the future. Backed by Saudi Arabia’s Public Investment Fund (PIF), Humain is advancing local AI compute and data center infrastructure to meet growing demand for AI processing.
Ireland Launches Tax-Free Savings Account Supporting Stock and ETF Investments
According to Bloomberg, Ireland has announced a new savings account plan that allows investors to hold stocks and ETFs within the account while enjoying tax benefits. Backed by the state, the account is expected to officially launch in early next year, offering full tax exemption up to a certain threshold, with a low fixed tax rate applied to amounts exceeding it. The specific tax-free threshold and related details will be formally announced in the budget on October 6.