back Back

Qredo secures $11 million seed funding to boost opportunities across DeFi

By Megha Bhattacharya

May 04, 2021

  • London
  • Qredo
Share

qredoDecentralized digital asset management infrastructure and product suite Qredo has announced an $11 million seed round led by investors including G1, Gumi Cryptos, Maven 11, Spartan Group, 1kx and Kenetic. This funding will fuel the next stage of the company’s growth, which includes doubling its R&D team and bringing in additional talent at the C-suite level, and Qredo’s anticipated version 2 launch. With version 2, Qredo stated that it will move closer to achieving its goal of transitioning to a decentralized autonomous organization (DAO). Qredo version 1 mainnet is live today and the company operates 24 nodes in 6 tier 4 data centres: Tokyo, Hong Kong, Singapore, New York, Chicago and London.

The successful release of version 1 has allowed the company to build, test and operate, prior to transitioning to version 2 decentralisation. Validators on version 2 are able to earn QRDO governance tokens as incentives, through a revenue-sharing mechanism within the network.

“The next generation of DeFi players will be institutions that actively look for ways to enter the crypto market in a secure and compliant manner without sacrificing their ability to respond to economic opportunities,” said Anthony Foy, CEO of Qredo.

“We are excited to see Qredo bring better speed, security and compliance into DeFi and provide a new way for institutions to interact with crypto on terms they are familiar with,” said Alex Mashinsky, investor and CEO of Celsius Network.

Previous Article

May 04, 2021

Invstr launches crypto trading in partnership with Vast Bank and Coinbase exchange

Read More
Next Article

May 04, 2021

Adyen Singapore now licensed by MAS under the Payment Services Act

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

London

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 15, 2024

Wirex & Visa expand partnership to fuel Web3 payment adoption

Read More

July 15, 2024

Daiwa Capital Markets Europe selects Delta Capita for CLM service

Read More

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024