Violet, a provider of privacy-protective compliance and identity infrastructure for Decentralized Finance (DeFi), raised $15M in funding.
The round was led by BlueYard Capital, Balderton, Ethereal Ventures, FinTech Collective, Brevan Howard and Coinbase Ventures.
The company intends to use the funds to accelerate the global adoption of Mauve.
Founded in 2021 by Markus Maier and Philipp Banhardt in Berlin, Violet has launched Mauve, a compliant Decentralized Exchange (DEX) purpose-built to offer the best of both DeFi and Traditional Finance (TradFi) to the crypto markets.
Mauve requires its users to undergo rigorous compliance checks. These checks ensure compliance-conscious users, who are currently restricted to centralized and custodial exchanges, feel confident migrating to DeFi. Fully transparent and governed by audited smart contracts, users can trade with instant settlement, without relying on intermediaries.
The exchange use Violet’s on-chain compliance infrastructure, which issues privacy-preserving compliance credentials, in addition to leveraging multi-factor authentication for security and identity continuity. The credentials are composable across other applications, and will ultimately position Mauve to be the cornerstone of a far-reaching compliant DeFi ecosystem that leverages Violet credentials.
Violet (DeFi Labs GmbH) is a German company subject to European and German law, including the General Data Protection Regulation. Mauve has submitted an application to register as a Virtual Asset Service Provider. Registration is intended to ensure Mauve maintains compliance with AML and sanctions laws.
FinSMEs
10/03/2023