Conduit, a remote crypto-native infrastructure platform designed to support and accelerate the builders in crypto, has landed $7m in seed funding.
The round was headed by Paradigm and saw participation from Robert Miller, Ludwig Pettersson, Dan Romero, Guillaume Poncin, Joshua Ma, and Lakshman Sankar.
Conduit claims it brings decentralized finance to the mainstream by enabling FinTechs, neobanks, and exchanges to go-to-market with crypto-based product offerings, quickly, easily, and at a fraction of the cost of building in-house.
Conduit gives FinTechs an early-mover advantage to maximize new revenue opportunities from crypto-based product offerings. The firm’s customizable, plug-and-play API makes it possible for FinTechs to build a range of innovative and differentiated crypto-based products within days, starting with high-yield savings accounts.
Conduit said helps offset the cost and risk associated with implementation, adding that its approach allows FinTechs to streamline regulatory compliance and minimize go-to-market hurdles.
The company intends to use the funds to expand operations and its development efforts.
Cega, a decentralised finance application, has raised $5m in funding to accelerate DeFi exotic structured products.
Cega built a decentralised application that combines basic options (with advanced options characteristics to create packaged “structured” offerings for DeFi users. Its first exotic options structured product is the fixed coupon note, which is a basket of puts with knock-in barriers.
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