Strips Finance raises $2.5m from Crypto.com Capital, Finlink Capital, and Mechanism Capital
Strips Finance has raised $2.5m in seed funding led by Crypto.com Capital, Finlink Capital, and Mechanism Capital.
Strips Finance aims to build the largest fixed-income trading platform.
Strips Finance was started due to frustration with the lack of interest rates trading products in DeFi.
We are excited to announce that Strips Finance has closed an initial seed investment round led by Crypto.com Capital, Finlink Capital, and Mechanism Capital. Furthermore, we are fortunate to welcome aboard DeFiance Capital, Pnyx Ventures, DeFi Alliance, Magic Ventures, and Darren Lau.
Strips Finance is a global decentralised fixed-income trading platform. Our first product is an interest rates swaps exchange built on Ethereum. Our core team members are made up of seasoned decentralised finance veterans and experts. Initial development will be led by our core team of developers and expert advisors. However, we believe in taking the open and collaborative approach to building Strips. Hence, we welcome you to come and chat with us in our telegram group or our discord. You can also follow us on Twitter to receive the most recent updates.
In traditional finance, interest rate swaps account for 80% of the OTC derivatives volumes. However, instead of simply “importing” existing tradfi products into DeFi, we have built something new from the ground up. With use cases such as yield hedging, leveraged yield farming, and interest rates speculation, to name a few, we believe that Strips will grow to be an integral part of the decentralised finance system.
We believe that interest rate swaps solve a very important problem at the heart of decentralised finance; the efficient and robust pricing of interest rates. The team at Strips are a very experienced group of experts and builders, and we are very excited to support them.
— Mechanism Capital
We are fortunate to be standing on the shoulders of giants and have the opportunity to give people the unrestricted freedom to be their own bank. Building upon the foundation of other DeFi projects, we hope to build more tools and money legos that others will find useful.
DeFiance Capital believes that interest rate swaps will bring a further level of sophistication to the DeFi ecosystem. We are excited to support the Strips Finance team as they apply their deep financial expertise towards building an innovative decentralised platform for fixed income products.
— DeFiance Capital
At Strips, we believe that decentralised finance is one of the best use cases of blockchain technology and are deeply passionate about moving the space forward and realising this vision.
Congratulate Strips on its milestone seed offering. Strips is at the forefront of startups seeking to capitalize on the historic changes to the decentralised fixed income market’s preferences, which are driven by the next generation’s shift in decentralised finance patterns. As an investor and a long-term partner, we look forward to working more closely with them going forward.
— Crypto.com Capital
All of our latest announcements will be posted on our Twitter. Join us in building the future of decentralised finance on telegram group or discord. If there is a feature you would like to request, visit our feature request page here https://features.strips.finance/.
