CLST, a Zurich, Switzerland-based institutional-only lending and borrowing venue for stablecoins and crypto assets, closed a multi-million USD seed round.
The round was led by Spartan Group, with participation from Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, a subsidiary of Digital Currency Group, and TX Ventures – the VC investment arm of TX Group.
The company intends to use the funds to bolster its peer-to-peer infrastructure through increased operational and market expansion.
Led by Michael Guzik, founder and CEO, is a one-stop-shop for peer-to-peer lending and borrowing that serves digital asset lenders and borrowers such as hedge funds, trading firms, treasuries, asset managers, and crypto banks seeking automated digital asset collateral management features. The system is automating bilateral price negotiation and settlement for the unsecured and collateralized short-term debt market. With a large number of institutions participating in the network after soft launching in early 2022, CLST is going live with a wide market version of the application later this year.
FinSMEs
29/07/2022