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Secured Finance secures $4 million to revolutionize DeFi

News
by Gauri Bhatia
29 July 2021
Secured Finance secures $4 million to revolutionize DeFi
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Secured Finance, an InterBank-grade financial transaction platform, has announced on the 28th that it has secured $4.0 million in its seed funding round.

The company informed that they were able to raise more than double the initial target in the round. Secured Finance will use the fund for corporate growth and regulatory compliance.

Transforming DeFi services

Secured Finance was established in 2020 with the aim of transforming DeFi services by delivering investment-bank-grade financial products and services for cryptocurrencies and digital assets. The company provides services such as lending and options trading on the Ethereum (ETH) blockchain.

The funding round was co-directed by GSR Markets, a cryptocurrency trading service company; Protocol Labs, an open-source research and development Laboratory; FinTech Collective, a venture capital firm; HOF Capital, a technology investment firm; and Huobi Ventures, a strategic investment firm.

The lead investors during the funding round were South African entrepreneur and Civic’s CEO Vinny Lingham, CoinList Chief Executive Officer (COO) Scott Keto, Board Member at Nomura Holding America James DeNaut, Twitch Co-Founder and Founder of Goat Capital, Justin Kan, and Creator of IPFS and Filecoin, Juan Benet.

Secured Finance previously participated in the Filecoin Launchpad Accelerator, Powered by Tachyon that helped finance the company’s projects.

In a press release issued, Masakazu Kikuchi, CEO and Co-Founder, Secured Finance, said:

“Today, we stand at a critical juncture in the journey to democratizing the finance system. Our vision is to become leaders in decentralized finance and to spearhead this movement through the creation of an institutional-grade P2P cross-chain settlement protocol. The tremendous interest and backing of our investors and strategic partners will enable us to grow the Secured Finance team and secure regulatory approval and legal compliance for our platform across jurisdictions globally.”

Praising the vision of Secured Finance, Rich Rosenblum, President, and Co-founder at GSR Markets said:

“In the digital asset space, rates are double or even triple digits, which opens up a lot of valuable investment opportunities, particularly in fixed income. Secured Finance has the right team and vision to bring fixed income products to DeFi while also solving some of the most difficult liquidity problems in the space.”

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Gauri Bhatia

Gauri Bhatia

Gauri is a full-time Content Writer at Our Bitcoin News. With a degree in Economics, she covers major news and concerns surrounding crypto-space.

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