DeFi firm Brale scores $11.1m in funding haul


Brale, an Iowa-based firm that claims it enables decentralised and centralised finance to work hand-in-hand, has landed $11.1m in funding.

 The round was headed by New Enterprise Associates and saw participation from Matthew Prince – co-founder and CEO of Cloudflare – and Albert Wenger, who is the managing partner at USV. NEA’s Scott Sandell joined Brale’s Board of Directors.

According to FinSME, Brale enables institutions to create and manage stablecoins on distributed protocols.

Integrated natively with popular retail chains, its platform can create new stablecoins or extend an existing private project to additional blockchains.

Brale intends to use the newly raised capital to invest in research and development while supporting its regulatory efforts in the US.

NeoSwap AI, an AI-powered NFT trading startup, has closed its pre-seed investment round and bagged $2m.

NeoSwap AI claims it seeks to revolutionise commerce with its multi-party, multi-item trading platform powered by artificial intelligence.

It said its proprietary algorithms allow for ‘efficient trade discovery’ using digital assets and minimal currency, offering a new and more efficient form of commerce compared to traditional centralized methods that require greater liquidity.

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