Unbound Finance, a blockchain-based financial services firm, has announced it has secured $5.8 million in Series A funding. The round was led by Pantera Capital and Arrington XRP Capital, along with existing investor Boost VC. Unbound Finance was created to disrupt the $3 trillion personal banking industry, by offering better customer service, lower fees, and transparency.
Unbound Finance has announced it has raised a $5.8 million funding round led by Pantera Capital and Arrington XRP Capital . The Series A funding round was announced at the close of a $10 million funding round last August. Unbound was launched last year by former Visa executive Charlie Lee and former MasterCard executive J. Christopher Bregler. The latest funding round was closed just a few months after the company launched its first product, an open platform for decentralized global payments.
The U.S. Securities and Exchange Commission (SEC) approved Unbound Finance LLC’s (UNB) application to list and trade its common stock on BATS Global Markets. Proceeds from the offering will be used for capital expenditures, general corporate purposes and for working capital.Unbound Finance has raised $5.8 million in investment from leading crypto investors, including Pantera Capital and Arrington XRP Capital, to help the company become the first decentralized cross-chain Steblecoin. Unbound is dedicated to developing capital efficient products that are both native and compatible with the DeFi ecosystem. The cashless collateral platform allows users to take out interest-free loans against liquidity pool tokens as collateral. Through strategic partnerships, the project creates native bridges to enable cross-chain transfers of its stablecoins and other synthetic assets. AMM is a zero to one innovation of DeFi, and we are creating an aggregator layer to provide higher returns and capital efficiency to our users, Tarun Jaswani, CEO and founder of Unbound Finance, said in a statement.
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Unbound is a protocol that taps into the pending liquidity in MSA’s liquidity providers’ portfolios and enables interest-free borrowing of cryptocurrencies in the form of stablecoin native $UND and other synthetic assets. The protocol, first introduced on Ethereum, currently supports MSAs such as Uniswap, Balancer, MooniSwap and Sushiswap. Strategic partnerships with public blockchains that support MVEs, such as Binance Smart Chain, Polygon and Harmony, will support MVEs such as PancakeSwap, DFYN and SeeSwap, among others. Unbound’s DeFi Treasury For Liquidity Pool Tokens launched its first test network in December 2020 and recently launched its final Zeta test network in April 2021. It is one of the first projects to integrate Uniswap V3 and introduces aggregation contracts for the provision of concentrated liquidity. These contracts are used to hedge NFT-positions, giving AND extra liquidity. The funding will be used to accelerate the development and growth of the Unbound protocol. The funds will be used to expand the Unbound team, testing, implementation, cash delivery and research and development with a focus on the MA area. The inflow of capital will also enable the development of new initiatives, including the aggregation contracts for Uniswap V3.
Project Defi is backed by leading venture capitalists in the blockchain ecosystem, including Pantera Capital, Arrington XRP Capital, CMS Holdings, Hashed, LedgerPrime, LD Capital, TRGC, ArkStream Capital, ZeePrime Capital, Future Perfect Ventures, Brilliance Ventures, Woodstock, Coin98 Ventures and GenBlock Digital. Unbound has great potential to become a leader in the DeFi space by focusing on liquidity pool tokens. We are excited to support the Unbound team in developing key tools to leverage this untapped part of the DeFi ecosystem, Dan Morehead, CEO of Pantera Capital, said in a statement. TechCrunch and XRP Capital founder Michael Arrington noted: Unbound Finance is a new primitive method that has the potential to unlock billions in unproductive value that resides in MA. We are excited to introduce Unbound as a revolutionary new mechanism for borrowing, lending and synthetic assets at DeFi. Angel investors who have also invested include the founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Frontier, Wikihow, DFYN, Dao-Maker, TomoChain, Polkastarter and many others. Denial: Has a financial position with Unbound Finance. was given the opportunity to participate in the private sale of Unbound Finance in exchange for news, project analysis and other coverage. was not paid for this article.
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Unbound Finance, a cryptocurrency-focused investment firm, has raised $5.8 million through a Series A funding round led by Pantera Capital and Arrington XRP Capital. The funding round also included contributions from Pantera’s co-founder, Dan Morehead, and Arrington XRP Capital’s Tyler Winklevoss, which will be used to accelerate growth of the firm’s crypto custody solutions and wealth management services, respectively.. Read more about michael arrington net worth and let us know what you think.
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