Midas, a Berlin, Germany-based provider of a asset tokenization protocol, raised $8M in funding.
The round was led by Framework Ventures, BlockTower and HV Capital, with participation from Cathay Ledger, 6th Man Ventures, Hack VC, GSR, Lattice Capital, Phaedrus, Theia Blockchain, Pareto, Axelar Foundation, Peer VC, FJ Labs, and Coinbase Ventures.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Dennis Dinkelmeyer, Midas is advancing an asset tokenization protocol that issues tokenized real-world assets as permissionless ERC-20 tokens. All underlying assets of Midas-issued tokens are held in segregated accounts with institutional custodians. As ERC-20 tokens, its assets retain the composability and transparency offered by an immutable blockchain ledger.
Commenting on the news, Dennis Dinkelmeyer said: “Midas is well-positioned to continue bringing investors innovative products to keep capital, particularly stable capital, on-chain through yield-bearing tokens while still harnessing the full suite of relevant DeFi applications.“
FinSMEs
28/03/2024