The decentralized financial protocol VEDA has raised $ 18 million to accelerate the adoption of its safe platform, which allows asset issuers to build cross-efficiency products, including prodigious ecunines.
The financing tour was directed by the venture capital company Coinfund, with an additional participation of Coinbase Ventures, Animoca Ventures, Bitgo, Mantle Ecofund, GSR, Relay Capital, Peer VC, Draper Dragon, Credit Neutral, Neartcore and Maelstrom, the company revealed on Monday.
The providential investors of Veda include the co-founders of anchorage, Ether.Fi and Polygon.
Launched in 2024, Veda is a protocol for the tokenization of a wide range of DEFI applications, including liquid implementation tokens, savings accounts include yields and stablescoins. It underlies some of the largest chests in cryptographic space, fueling platforms such as Ether.Fi’s Liquid, Mantle’s Cmeth and the Lombard DEFI Vault.
The total monetary value of the assets locked on VEDA eclipsed $ 3.3 billion, according to industry data.
Veda identified an increasing demand for generation of bitcoins (BTC), despite its challenges.
“The reliable bitcoin performance demand is high, but the harvesting even a modest yield a few percent is often complex and takes time,” the co -founder and CEO of Veda, Sun Raghupathi told Cointelegraph.
Veda takes up this challenge thanks to her partnership with Lombard, the liquid bitcoin developer on Babylon.
In relation: Kraken launches Bitcoin with the integration of Babylon
The growth of the stables lapping
Coinfund’s investment in Vera partially reflects its growing conviction that the adoption of Stablescoin accelerates and brings more wealth.
“Wealth Onchain’s next natural step is to win the performance and make your assets (fiduciary or digital active currency), David Pakman, Coinfund director and head of venture capital investments, told Cointelegraph.
When they were asked for the rise of the stablescoins carrying yields, which would have disrupted the traditional banking lobby, Pakman qualified them as “inevitability”, adding that they are “a much more practical means of winning a low risk return on the Fiat than traditional banking networks and monetary market accounts”.
“I agree that, once we have more and more stablescoins, traditional bank savings accounts will be endangered and will have to evolve,” he added.
The CEO CEO, Jeremy Allaire, recently declared that the generalized adoption of Stablecoin approaches, predicting that these assets would soon live their “moment of the iPhone”.
The USDC of Circle (USDC) is the second largest stablecoin, with more than $ 61 billion in traffic. The USDT de Tether (USDT) is the largest with a value of almost $ 156 billion.
In relation: Genius Act can make “part of the financial infrastructure of the stablescoins”
