Ostium Labs, a pioneering FinTech company, has made headlines with its latest funding round.
The firm recently secured $3.5m in funding, with investment heavyweights General Catalyst and LocalGlobe leading the charge. Additionally, the round saw participation from notable names such as Susquehanna International Group (SIG), DeFi Alliance, Balaji Srinivasan, Shiliang Tang from LedgerPrime, and a host of other founders, investors, and advisors.
Ostium Labs is at the forefront of introducing a monumental shift in the financial market landscape. They are preparing to unveil their flagship protocol – a unique decentralised, non-custodial perpetuals exchange crafted for real-world assets. This comes at a pivotal time, especially considering the seismic disruptions in global financial markets triggered by various factors ranging from inflation peaks, surging interest rates, to tectonic shifts in geopolitical dynamics.
The newly acquired $3.5m will primarily be channelled towards the launch of this promising protocol.
The need for diversification in investment portfolios has never been more pronounced, with both on-chain and off-chain markets witnessing a surge in interest for alternative asset classes. Ostium Labs stands out by aiming to offer on-chain trading solutions specifically for real-world assets. Their proposed decentralised perpetuals DEX is tailored for these assets, focusing initially on commodities and foreign exchange. A few highlights of their protocol include stablecoin settlements, oracle-based data sourcing via Chainlink, and efficient risk management in collaboration with Chaos Labs.
General Catalyst Partner Nick van Eck and Managing Director Kyle Doherty remarked, “Blockchain-based networks are seeking to transform the core infrastructure of the financial world through reduced transaction costs, improved settlement times, and composability. We believe that new financial primitives like Ostium will contribute to the much-needed upgrade of the system for all financial assets… We are excited to share in the company’s values and partner.”
LocalGlobe Partner Ash Arora stated, “In the last century, we’ve seen vast growth in access to both financial and tangible assets… Ostium’s brilliant team and their ambition to become the leading on-chain platform for democratizing tangible asset investments resonates deeply with the foundational principles of web3. We’re thrilled about Ostium’s potential to cultivate access to a truly novel suite of on-chain assets and democratise consumer access to long underserved asset classes.”
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