THELOGICALINDIAN - Truefi an uncollateralized accommodation belvedere has aloft 125 actor from three important investors The badge auction was led by Blocktower a New Yorkbased cryptocurrency advance close Other important investors were Alameda Research endemic by Sam BankmanFried architect of FTX and A16z Truefi is one of the few uncollateralized defibased lending protocols in the industry
Truefi Raises $12.5 Million
Truefi has raised $12.5 actor dollars to aggrandize its operations and its action of lending products. The advance was fabricated through the acquirement of its built-in badge truefi (TRU), which will be absolved in stages. The badge auction was led by New York-based Blocktower, a cryptocurrency blockchain VC firm, with the accord of Alameda and A16z, some of the better advance firms in the crypto space.
The agreement is the artefact of analysis with a arrangement that emulates acceptable accounts altitude on defi. While best defi loans charge accept accessory to alike be issued in the aboriginal place, acceptable accounts doesn’t assignment in that way. Banks use a acclaim account to affair loans, and that account is based on the action and volumes confused by the customer.
Truefi seeks to challenge this behavior, acceptance users to booty out uncollateralized loans according to assertive variables. These variables will actuate the acclaim account of anniversary user in the blockchain. This has already resulted in added than $200 actor in accommodation originations for Trusttoken, the aggregation abaft the protocol, which is additionally the issuer of trueusd, a accepted stablecoin.
Expanding Its Reach
The fundraiser allows Truefi to focus on accretion the ability of its agreement to new markets and alms new products. Rafael Cosman, CEO of Trusttoken, stated:
Alameda Research was one of the aboriginal institutions to use the protocol, and they are now allotment of the advance arch it to new customers. San Bankman-Fried, CEO of the VC advance firm, stated:
What do you anticipate of Truefi’s latest badge sale? Tell us in the comments area below.
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