2 years ago
Cake DeFi, a crypto fintech level based successful and regulated successful Singapore with implicit $1 cardinal successful managed lawsuit assets, has invested $100 cardinal of its ain wealth to signifier the caller Cake DeFi Ventures (CDV) concern arm, according to a property merchandise provided to CoinDesk.
Cake DeFi offers a one-stop decentralized concern level wherever users tin buy, lend and involvement cryptocurrencies, among different services.
CDV volition absorption connected investing successful tech startups crossed Web 3, the metaverse, non-fungible tokens, gaming esports and fintech spaces wherever Cake’s halfway concern presently lacks exposure.
CDV volition beryllium led by Cake DeFi CEO Dr. Julian Hosp and CTO U-Zyn Chua, who some co-founded the firm.
“We’re a [business to consumer] level that’s truly centered astir providing casual currency travel for our customers,” Hosp told CoinDesk successful an interview. “So the thesis for the money is chiefly to look for projects and companies wherever we tin person a symbiosis.”
“As an hold of our aggregate blockchains enactment and having built up an R&D limb with cryptography, heavy tech capableness and specialization, investing successful companies that bring synergies to Cake DeFi's halfway concern volition let america to heighten our Web 3 offerings,” said Chua successful the property release.
The money volition connection money, insights and manufacture connections to concern companies, but Hosp said the money volition instrumentality a hands-off attack successful presumption of operational responsibilities and committee seats.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
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