Pantera Capital and Arrington XRP Capital lead $5.8M Unbound Finance raise
June 10, 2021. Summarized by summa-bot.
Compression ratio: 41%. 1 min read.
Who said crypto-market euphoria has died? Unbound Finance has raised millions from leading VCs and angel investors.
Cryptocurrency asset managers Pantera Capital and Arrington XRP Capital have co-led a $5. 8 million private investment round for Unbound Finance, an up-and-coming DeFi treasury protocol for pooled tokens.
The funds will be used to further develop Unbound Finance’s cross-chain stablecoin platform, including the development of native bridges for instant transfers between its native UNB stablecoin and other synthetic assets, the company announced Wednesday.
Automated market makers are “DeFi's Zero to One Innovation and we are building the aggregator layer to enable greater yields [and] capital efficiency for our users,” said Tarun Jaswani, CEO and Founder of Unbound Finance.
There are some serious backers behind Unbound Finance’s $5. 8 million raise.
Pantera CEO Dan Morehead commented on the impact Unbound Finance could have on the budding DeFi industry: