Decentralized finance platform Coinchange has raised $10 million in funding.
Companies G1.VC, Spirit Blockchain, Good News Ventures, K2.CA and Atoia Ventures led this round, with additional participation from Mintfox.
Coinchange allows business users to trade and access digital asset returns as a service through the Earn API, a risk management platform for stable returns that supports Bitcoin, Ethereum, and all major stablecoins.
“We will use these funds to grow our operations and services, along with attracting new customers,” the company said in a statement.
“As part of our expansion plans with this funding, we will continue to improve our product and expand our customer base to create the simplest and safest way to earn passive income from cryptocurrency assets,” said Coinchange CEO Maxim Galash. “We will provide a way,” he said. “Through the Earn API, we aim to enable fintechs and exchanges to unlock monetized accounts for millions of users around the world.”
Along with DeFi yield services, Coinchange manages compliant brokerage services in the US and Europe, the company added.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.