Advanced Blockchain AG Has Invested in Element Finance Via its Subsidiary
DGAP-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Expansion
Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) has invested via a subsidiary into Element Finance, an open source protocol for fixed and variable yield markets in decentralized finance (DeFi). The project closed their Series A by successfully raising $32 million at a $320 million valuation, of which Advanced Blockchain AG, through its subsidiary invested a 7 figure amount, positioning Advanced Blockchain AG as one of the largest investors in the round. The Series A was led by a16z (Andreesen Horowitz) and Polychain Capital. Angel investors included Rune Christensen of MakerDAO; Stani Kulechov, the founder of Aave; Fernando Martinelli, the founder of Balancer; Santiago Santos, and many others.
DeFi-based fixed rate instruments are still in their nascent stages, yet will ultimately prove to be an integral asset class within the burgeoning DeFi ecosystem. Given the team's pedigree, proven ability to execute, and strong base of supporters, it is clear no team is better positioned to herald in new asset constructs into DeFi.
20.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Advanced Blockchain AG |
Scharnhorststraße 24 | |
10115 Berlin | |
Germany | |
Phone: | +4930403669510 |
Fax: | 030403669511 |
E-mail: | info@advancedblockchain.com |
Internet: | www.advancedblockchain.com |
ISIN: | DE000A0M93V6 |
WKN: | A0M93V |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1242020 |
End of News | DGAP News Service |
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1242020 20.10.2021