Structure, a global trading platform whose aim is to make crypto-based lending and investment more accessible to mobile phone users, announced it has acquired $20 million in funding to help in actualizing its goal.
Structure will provide decentralized financing, or “DeFi,” which is crypto-denominated loans outside of traditional banking, as well as tokenized assets, which are digital representations of traditional assets like stocks and real estate.
Polychain Capital, a crypto firm, led the round. Bixin Ventures, a crypto startup fund, and Ascensive Assets, a digital asset investment firm, are among the other investors.
Structure, which was created this year, was valued at $150 million in the most recent funding round. Structure’s endeavour is part of a growing trend among investment platforms to give regular investors access to crypto and DeFi investing.
“We created Structure because we didn’t believe people were concerned about missing out on bitcoin and Defi opportunities. They are, in fact, missing out “Structure’s president and co-founder, Bryan Hernandez, said Reuters in an interview.
“We felt there was a pressing need to create a product that allows average people, not only financial professionals and technologists, to have access to what’s going on in DeFi while remaining within the traditional financial realm.”
Prior to joining Structure, Hernadez was the CEO of Sonar Trading, a crypto-focused proprietary trading firm.
Structure’s aim as a DeFi project
Customers will be able to invest in tokenized equities, options, cryptocurrencies, and tokenized exchange-traded funds through Structure, which is based in the British Virgin Islands.
According to Structure, DeFi trading prospects have traditionally been limited to seasoned investors, leaving a largely untapped market of first-time investors.
“We are convinced that DeFi’s promise is not limited to a select few,” said Olaf Carlson-Wee, founder and CEO of Polychain, one of Structure’s investors.
The Structure App, according to Hernandez, might be released to the public by the end of the first quarter of 2022.