DeFiato Completes First Round of Funding

DeFiato, a Singapore-based fintech platform for Decentralised Finance (DeFi), completed the first round of its private token sale.

Participating investors include DeFi-focused funds DAO Maker, Mirana Ventures (a venture partner of Bybit and BitDAO), CRC Capital, Double Peak Group, Dweb3 Capital and 7 O’Clock Capital.

Led by Dr William H. Nguyen, CEO and Founder, DeFiato is a mainstream Fintech platform for Decentralised Finance (DeFi) that eliminates technical barriers and financial risks associated with many decentralised platforms. The platform enables on-chain liquidity through various pools, across different chains. It also offers fiat on-ramp via Prime Trust and will also support peer-to-peer (P2P) transactions.

The system enables users to gain access to hundreds of DeFi services on its aggregated, centralised system. Users can also deposit, withdraw, swap, stake and even farm cryptocurrencies with just one click. The platform currently supports Ethereum (ETH), Binance Smart Chain (BSC), Polygon (MATIC) and Avalanche (AVAX), with Solana (SOL) soon to be onboarded.

By the end of 2021, the company will be launching its native utility token and mobile app. This token will be used primarily for payment of fees within the platform, and users of the token can expect significant cost savings. The platform will also onboard five more blockchains and release multiple new features.

Since its launch in December 2020, DeFiato has onboarded more than 80,000 international users on its platform.