Volare Finance, which specialises in a web3 options protocol for crypto volatility markets, has closed its seed round on $6m.
Master Ventures Investment Management (MVIM) served as the lead investor. Other backers include SR, Arrington XRP Capital, Spark Digital Capital, GSR Markets, Huobi Ventures and others.
With the funds, the company hopes to bolster the development of its options trading model in the blockchain ecosystem.
Volare Finance offers a DeFi option protocol for European options, option combos and exotic options. It allows investors to adopt standard or custom option strategies portfolios as well as clients tools for hedging, speculation and yield enhancement.
Through its technology, Volare Finance aims to reduce the friction traders face in options trading and make it a more accessible trading style for all.
Master Ventures Investment Management head managing partner Orion Depp said, “MVIM believes that the Defi ecosystem is only in its beginning stages, and we expect that its continued evolution will fundamentally shape the future of finance in new and novel ways. Volare is positioned nicely ahead of a huge opportunity to fulfil an important market need, and at a time the shift from Defi 1.0 to Defi 2.0 is imminent.
?The project brings a much needed option functionality to the market, and we believe they are the right team to execute their roadmap and deliver this much needed solution to the market. We look forward to supporting their mission with the industry leading resources at our disposal.”
Volare recently held a testnet launch on the Fuji Protocol.
In other blockchain news, Pine Street Labs recently raised $6m in its latest funding round. The company allows enterprises to manage wallets on any blockchain.
Earlier in the month, the EU has edged closer to creating a crypto regulation after it passed the Markets in Crypto Assets Regulation (MiCA) bill. The legislation hopes to regulate the digital assets space within the union.
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