Swarm
Swarm is a Berlin-based blockchain platform providing compliant infrastructure for tokenizing and trading real-world assets, including stocks, bonds, and gold. It serves retail investors, financial institutions, and partners through multi-chain deployment and white-label licensing.
- Company typePrivate
- Founded2021
- HeadquartersBerlin, Germany
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Swarm does
Swarm is a Berlin-based blockchain financial infrastructure company that provides compliant DeFi infrastructure for the tokenization, liquidity provision, and trading of real-world assets (RWAs). The company operates Swarm Capital GmbH under BaFin oversight in Germany, with subsidiary SwarmX GmbH acting as the issuing entity for tokenized securities. Its core offering combines automated market maker (AMM) liquidity pools across seven blockchain networks (Ethereum, Polygon, Hedera, Base, Arbitrum, Plasma, BNB Chain, and HyperEVM) with proprietary tokenization standards (SX1411 for fractional RWAs and SX1155 for unique assets), a decentralized OTC protocol (dOTC) for slippage-free block trades, and a novel redemption pool mechanism that executes traditional-market buy/sell orders from smart contracts for instant exit liquidity.
The platform serves three primary customer groups: retail investors accessing tokenized US stocks (AAPL, TSLA, COIN, NVDA, MSFT, MSTR, BLK, INTC, CPNG) and US Treasury bond ETFs (TBONDS01, TBONDS13) via a self-serve app with no minimum investment; institutional clients (banks, hedge funds, broker-dealers, asset managers) requiring regulatory-grade DeFi infrastructure; and enterprise partners embedding Swarm's white-label tokenization infrastructure into their own ecosystems, exemplified by the Cloud Payments carbon credit platform and the Volksbank gold NFT offering. Revenue mechanics are transaction-based: Swarm captures 25% of AMM swap fees or 0.1% of assets swapped (whichever is larger), supplemented by the SMT utility token (50% fee discount) and bespoke white-label licensing.
Swarm became the first organization to offer tokenized US Treasury bills and public stocks on a compliant decentralized platform in February 2023. The company was acquired by Inveniam, a global leader in decentralized private-market data infrastructure, in February 2026, with the deal positioning the combined entity at the intersection of tokenized public markets, private market data, and AI-native financial infrastructure. Swarm continues to operate under its existing brand and regulatory framework post-acquisition, feeding into Inveniam Capital.
Swarm firmographics
Firmographics- Name
- Swarm
- Legal name
- Swarm Capital GmbH
- Website
- https://swarm.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- Swarm is a Berlin-based blockchain platform providing compliant infrastructure for tokenizing and trading real-world assets, including stocks, bonds, and gold. It serves retail investors, financial institutions, and partners through multi-chain deployment and white-label licensing.
- Ownership category
- akta.pro rank
Swarm industry classification
Industry- Product category
- Digital Asset Tokenization & Trading Infrastructure
- NAICS
- Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210), Miscellaneous Financial Investment Activities (523999)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)
- akta.pro primary industry
- Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD)
- akta.pro secondary industries
- Transfer Agent, Cap Table & Token Lifecycle Management (registrar, corporate actions, burns/mints) (FSAPAIAF), Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH), Interoperability & Integration Middleware (ERP/core banking connectors, messaging, APIs, cross-chain to permissioned) (FSAPAIAL)
Keywords
Where Swarm is headquartered
LocationHeadquarters
- HQ city
- Berlin
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
Swarm business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- AMM Swap Fees: Traders pay fees to liquidity pool owners for swapping assets. Pool creators set their own swap fee. Swarm captures 25% of pool swap fees or 0.1% of assets being swapped, whichever is larger, before pool owners receive their fee.
- SMT Token Utility: SMT is the native payment token (ERC20 on Ethereum). Users get 50% discount on protocol fees when paying with SMT. Loyalty rewards boosted for wallets holding SMT, paid out weekly based on SMT value ratio to deposited assets.
- White-Label Platform Licensing: Bespoke solutions licensing for partners to integrate tokenization infrastructure into their own services. Partners embed custom marketplaces using Swarm's API and smart contracts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | No minimum investment for tokenized securities |
| Subscription | Monthly | SMT token holders receive 50% protocol fee discount |
| Transaction based/ take rate | Pay-as-you-go | AMM pool creators set swap fees, Swarm takes 25% or 0.1% of assets |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels9 records
Swarm product offering
Product offeringCore offering
Swarm operates a blockchain-based financial platform that provides compliant DeFi infrastructure for the tokenization, liquidity provision, and trading of real-world assets (RWAs) including tokenized public stocks, US Treasury bond ETFs, and tokenized gold. The platform combines AMM-based trading, decentralized OTC (dOTC) protocol for large block trades, and a white-label licensing model enabling partners to embed compliant tokenization and trading marketplaces into their own ecosystems.
Product overview
Swarm is a blockchain-based finance platform offering compliant DeFi infrastructure for tokenization, liquidity, and trading of real-world assets. The platform operates as a unified ecosystem combining: (1) Core Swarm Platform for issuance and trading of tokenized assets, (2) dOTC Protocol for peer-to-peer large-volume transactions, (3) White-Label Platform for partners to embed custom marketplaces, (4) Tokenized Stocks (AAPL, TSLA, COIN, MSTR, NVDA, BLK, CPNG, INTC, MSFT), (5) Tokenized US Treasury Bond ETFs (TBONDS01, TBONDS13), (6) xGOLD for tokenized gold with Brink's custody, (7) Swap and Staking features for liquidity provision, (8) SMT native payment token with fee discounts and rewards, (9) Liquid Staking for institutional-grade staking, (10) KYC/Onboarding API for compliance, (11) SX1411 and SX1155 token standards for asset issuers. The platform spans multiple blockchains (Ethereum, Polygon, Hedera, Plasma, Base, Arbitrum, BNB Chain, HyperEVM) and targets both retail and institutional investors with a hybrid model combining DeFi innovation with regulatory compliance.
Differentiator
Problem solved
Functional benefit
Brands
- SwarmX: Issuing entity for tokenized stock and bond tokens, a subsidiary of Swarm Capital GmbH
- xGold
- dOTC
- SMT
Products and services
- Swarm Platform Core blockchain-based finance platform providing compliant DeFi infrastructure for token issuance, liquidity, and trading of real-world assets including stocks, bonds, and commodities. Targets retail investors and financial institutions.
- xGOLD (Tokenized Gold) Tokenized gold product representing physical gold bars held by institutional custodian Brink's. Fully asset-backed, redeemable, and tradeable peer-to-peer with MiCAR compliance. For retail and institutional investors.
- dOTC Protocol Decentralized over-the-counter protocol enabling peer-to-peer large-volume transactions using autonomous smart contracts. Removes slippage and counterparty risk for block trades across crypto, tokenized RWAs, NFTs, and commodities.
- Tokenized Stocks Prospectus-based tokenized public stocks (AAPL, TSLA, COIN, MSTR, NVDA, BLK, CPNG, INTC, MSFT) backed 100% by real equities held by institutional custodians. Available 24/7 on compliant decentralized infrastructure. For retail and institutional investors.
- Tokenized US Treasury Bond ETFs
Quantifiable outcome
- 11% increase in platform users in first month of launching tokenized stocks and bonds
- +3 more outcomes
Companies that use Swarm
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Swarm technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration23 records
AI capability3 records
Feature6 records
Swarm partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered flagship, core and minor.
- InveniamflagshipSwarm being acquired by Inveniam to launch full stack platform for agentic asset management. Transaction closed February 24, 2026. Combines Swarm's tokenization and trading infrastructure with Inveniam's data and valuation capabilities for AI-native financial markets. Swarm feeds into newly-created Inveniam Capital business unit.
- Plasma NetworkcorePlasma is a layer 1 blockchain backed by Tether, Bitfinex, and Framework Ventures. Swarm launched nine tokenized equities on Plasma's mainnet beta including AAPL, MSTR, COIN, NVDA, BLK, CPNG, INTC, MSFT, TSLA. Plasma provides zero-fee stablecoin transfers with $2B+ liquidity at launch.
- Hedera FoundationcoreStrategic collaboration to launch tokenized stocks on Hedera Network. Equities like Apple, Tesla, and MicroStrategy made available on-chain, backed 1:1 with insolvency protection. Features novel redemption pool for instant exit liquidity bypassing T+2 settlement.
- Cloud PaymentscoreStrategic partnership with global leader in mobile wallet and digital currency infrastructure. Cloud Payments has 1.5 billion users across 50+ countries. First milestone delivered: live on-chain platform for trading biochar carbon credits built on Polygon whitelabeling Swarm's technology.
- MattereumminorPartnership to securitize real world assets on chain. Mattereum provides digital identity layer for RWAs on Ethereum with legal structures ensuring transfers are enforceable. Enables onboarding of high-value assets like real estate, gold, fine art for institutional trading.
- VolksbankcoreGermany's oldest cooperative bank launched gold NFTs in partnership with Swarm. Partnership allows Volksbank customers to buy NFT tokens representing precious metals (gold, palladium, platinum, silver) with no minimum investment and self-custody capability.
- ChainlinkcoreChainlink provides industry standard for building hybrid smart contracts. Swarm leverages Chainlink price feeds to access secure and reliable data for off-chain-listed assets.
- FireblockscoreEnterprise-grade digital asset infrastructure platform used by Swarm for secure custody and transaction processing.
- CoppercoreAward-winning digital asset security provider serving as ultimate protection for trading platforms and institutions. Swarm uses Copper for institutional-grade custody.
- SumsubcoreMarket-leading identity verification services provider. Swarm builds on Sumsub's KYC/KYB technology to meet highest compliance and security requirements.
- PolygoncoreDecentralized Ethereum scaling platform providing low transaction fees and high security. Swarm implements layer 2 scaling solution for faster and cheaper transactions.
- Brink'scorePhysical gold custodian with vaults in London. Gold bars held by Brink's with unique identifiers linked to NFT ownership tokens.
- Rialto MarketsminorU.S.-based digital ATS providing global liquidity layer for Swarm's platform connecting to traditional capital markets.
- MANTRA FZEminorDubai-based partner providing global liquidity layer and regulatory framework for Swarm's expansion into Middle East markets.
- HedgehogminorSolutions provider for private market interval funds, part of Swarm's global liquidity layer for tokenized asset trading.
- Fundz Europe GmbHminorEuropean distributor for Cloud Payments, enabling Swarm's white-label technology deployment across European markets.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Swarm competitors and assessment
Company assessmentEmerging players
- Polytrade: Polytrade is an RWA tokenization platform focused on tokenizing trade finance receivables and other real-world assets on Polygon. Comparable to Swarm's RWA focus and Polygon deployment, though narrower in asset coverage.
- Plume Network: Plume Network is a modular L2 blockchain purpose-built for real-world asset tokenization. Comparable to Swarm as an RWA infrastructure platform, though operates as a chain rather than an issuer and could integrate with Swarm's multi-chain deployment.
- Toucan Protocol: Toucan Protocol tokenizes carbon credits as on-chain assets. Comparable to Swarm's partnership with Cloud Payments on biochar carbon credits, both operating at the intersection of RWA tokenization and carbon markets on Polygon.
Broad incumbents
- Coinbase: Coinbase is a major centralized cryptocurrency exchange with expanding RWA and tokenized securities initiatives. Comparable as a broader incumbent in regulated crypto trading and institutional custody infrastructure competing for similar retail and institutional capital.
Direct peers
- Ondo Finance: Ondo Finance is a leading tokenized US Treasuries and institutional-grade RWA platform. Directly comparable to Swarm's tokenized T-bill ETFs (TBONDS01, TBONDS13) and competes for the same institutional DeFi capital, though Ondo is significantly larger and US-focused.
- Matrixdock: Matrixdock is an RWA platform focused on tokenized short-duration US Treasuries (STBT). Comparable to Swarm's tokenized treasury bond ETFs as a similar fixed-income-on-chain offering competing for the same DeFi treasury allocator base.
- Centrifuge: Centrifuge tokenizes real-world assets (invoices, real estate, royalties) for use as collateral in DeFi via Tinlake. Comparable to Swarm's on-chain lending markets for tokenized RWA collateral, targeting similar DeFi-native institutional and protocol users.
- Backed Finance: Backed Finance issues tokenized securities (tracker certificates) on public chains replicating stocks, bonds, and ETFs. Closely comparable to Swarm's tokenized stocks offering (AAPL, TSLA, MSFT) as both deliver 1:1 backed, regulated on-chain equity exposure.
- Securitize: Securitize operates an end-to-end platform for tokenizing and managing regulated digital securities, including private credit, real estate, and equities. Directly comparable to Swarm's tokenization standards and KYC/onboarding APIs for institutional RWA issuance.
- Maple Finance: Maple Finance is an institutional digital asset lending marketplace. Comparable to Swarm's on-chain lending markets for tokenized RWA collateral, though Maple focuses primarily on credit underwriting rather than asset tokenization itself.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Swarm social profiles
Digital presenceSwarm compliance and trust
Trust signalCompliance3 records
Swarm financial estimates
Financial estimateRevenue estimate
Valuation estimate
Swarm leadership team
Management profileNumber of profiles
Profiles3 records
Swarm subsidiaries and ownership
Company hierarchySubsidiaries1 record
Swarm funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Swarm M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Swarm
What does Swarm do?
Swarm operates a blockchain-based financial platform that provides compliant DeFi infrastructure for the tokenization, liquidity provision, and trading of real-world assets (RWAs) including tokenized public stocks, US Treasury bond ETFs, and tokenized gold. The platform combines AMM-based trading, decentralized OTC (dOTC) protocol for large block trades, and a white-label licensing model enabling partners to embed compliant tokenization and trading marketplaces into their own ecosystems.
Is Swarm a public or private company?
Swarm is a private company. It is classified as corporate owned and is currently acquired.
When was Swarm founded?
Swarm was founded in 2021. It employs 1 to 10 people.
Where is Swarm based?
Swarm is headquartered in Berlin, Germany, in the Europe region.
How does Swarm make money?
Three revenue lines are on record. AMM Swap Fees are the primary driver. The others are SMT Token Utility and white-Label Platform Licensing.
Who are Swarm's main competitors?
Emerging players on record are Polytrade, Plume Network and Toucan Protocol. Coinbase is listed as a broad incumbent. Direct peers are Ondo Finance, Matrixdock, Centrifuge, Backed Finance, Securitize and Maple Finance.
Does Swarm have an API?
Yes. Swarm offers an onboarding API for KYC/KYB verification for partners who do not have their own KYC provider. The API verifies users' identities and source of funds, enabling identity verification flow, document submission, and onboarding status tracking. Two environments are available: Sandbox (Mumbai/Polygon Testnet) for testing, and Production (Polygon) for live integrations requiring prior testing. Swarm also offers a complete API and smart contract solution for tokenization (SX1411 standard for tokens and SX1155 for unique RWAs), along with a KYC Sharing API for partners with existing KYC providers. Developer documentation is at docs.swarm.com/getting-started/faq.
What industry is Swarm in?
Swarm's product category is Digital Asset Tokenization & Trading Infrastructure. Its primary akta.pro industry code is FSAPAIAD, Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity), with a secondary code of FSAPAIAF, Transfer Agent, Cap Table & Token Lifecycle Management (registrar, corporate actions, burns/mints). Its NAICS code is 52321 and its SIC code is 6200.