{"id":9049,"date":"2021-09-01T14:04:47","date_gmt":"2021-09-01T13:04:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9049"},"modified":"2021-09-01T14:04:52","modified_gmt":"2021-09-01T13:04:52","slug":"evrynets-raise-7m-for-its-forthcoming-defi-app","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/evrynets-raise-7m-for-its-forthcoming-defi-app\/","title":{"rendered":"Evrynet’s raise $7M for its forthcoming DeFi app"},"content":{"rendered":"\n
The market for decentralized finance is continuing to grow at an alarming rate, because of the more than $155 billion in total value that has been locked in, DeFi <\/a>is becoming more appealing to large institutional investors.<\/h5>\n\n\n\n
\"Evrynet's<\/figure>\n\n\n\n

Evrynet, a financial services platform\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, has completed a $7 million fundraising campaign for their upcoming decentralized finance app, which will target institutional investors. This is further evidence that DeFi has an institutional-grade audience, as has previously been suggested.<\/p>\n\n\n\n

Private equity firm Signum Capital led the round, which included participation from Petrock Capital, Ellipti Ventures, and other investors. Signum Capital is a Singapore-based blockchain innovation fund. <\/p>\n\n\n\n

Among Evrynet's prior investors have included HashKey Capital, Everest Ventures, Hanwha Investments and Securities, and Seven Bank, to name just a few names.<\/p>\n\n\n\n

The funds will assist Evrynet in providing institutional-grade DeFi services to investors through its upcoming Evry.Finance application, which will act as an exchange, liquidity pool, and staking platform, as well as other services as needed. <\/p>\n\n\n\n

In addition, the company is constructing infrastructure <\/a>to connect decentralized and real-world assets together. Evrynet's infrastructure is compatible with ERC-20 and BEP-20 tokens, as well as other cryptocurrencies.<\/p>\n\n\n\n

Retail investors' interest in DeFi continues to expand as a result of the high-yielding options available in the cryptocurrency lending, staking, and liquidity mining markets. <\/p>\n\n\n\n

While institutional investors are in the process of amassing crypto assets like as Bitcoin (BTC) and Ether (ETH), they have been far more cautious in their approach to dealing with Derivatives Futures (DeFi).<\/p>\n\n\n\n

As could be expected, crypto-focused hedge funds have embraced DeFi considerably more quickly than their counterparts. According to a recent poll conducted by PwC, 31 percent of cryptocurrency hedge funds have stated that they use decentralized exchanges for trading. <\/p>\n\n\n\n

The fund managers at these organizations are still optimistic about the future of cryptocurrency, with several predicting a Bitcoin price of $100,000 by the end of 2021.<\/p>\n\n\n\n

Players from the cryptocurrency industry, such as Grayscale and Bitwise, have already made a stir in the DeFi<\/a> space. While this is happening, investment manager VanEck <\/a>predicts that DeFi will command a larger share of the non-Bitcoin blockchain market in the future. <\/p>\n\n\n\n

A significant amount of disruption will be felt in the traditional banking sector as more customers choose to employ decentralized protocols because of their efficiency and yield potential.<\/p>\n","protected":false},"excerpt":{"rendered":"

The market for decentralized finance is continuing to grow at an alarming rate, because of the more than $155 billion in total value that has been locked in, DeFi is becoming more appealing to large institutional investors. Evrynet, a financial services platform , has completed a $7 million fundraising campaign for their upcoming decentralized finance […]<\/p>\n","protected":false},"author":13,"featured_media":9054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[197,4179,4180],"class_list":["post-9049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-defi","tag-evrynet","tag-infrastructure"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-4.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9049"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9054"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}