Trade finance protocol PolyTrade raises USD 1.2 mln

Monday 31 May 2021 11:33 CET | News

Blockchain-based trade finance protocol Polytrade has successfully closed its funding rounds raising USD 1.2 million.

Polytrade is focused towards providing real world borrowers with lending options with low interest rates and swift financing, hence fine-tuning the overall experience of small lenders, as the company says.

Moving forth, it strives to build a full-stack lending protocol to empower the growth of small businesses by bringing new solutions to the DeFi world. Investors include Sandeep Nailwal (Polygon), Master Ventures, Orion Protocol, AU21 Capital, Spark Digital Capital, LD Capital Limited, Icetea Labs, Momentum 6, Krypital Group, ROK Capital, Ramani Ramachandran (Router), Amesten Capital, Axia Ventures, Shima Capital, and DaSheng Capital. The idea has aligned with the vision of the investors to drive mainstream adoption of DeFi. 

Polytrade is working towards tokenizing real-world assets employing the blockchain technology to support the seamless transfer of assets on-chain. It is also working towards creating a liquidity pool and providing insurance backed investments to crypto natives reinforcing a safety aspect to attract investors. Although cryptocurrencies are dynamic in nature, it aims to minimize the risk for the investors in respect to volatility. Through Polygon, Polytrade aims to bring scalability, low- transactions costs and high throughput in its ecosystem, the press release says.

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Keywords: blockchain, lending, digital assets, SMEs
Categories: Blockchain & Cryptocurrencies | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Blockchain & Cryptocurrencies