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Apr 21, 2021 / 16:21

Vietnam-based blockchain startup secures US$4 million investment from US

The fresh investment aims to contribute to perfecting infrastructure of decentralized finance (DeFi).

Vietnam-based startup in blockchain, Coin98 Finance has received a US$4 million investment from Alameda Research, one of the leading quantitative crypto trading firms and liquidity providers, to expand its scale, create new products and contribute to perfecting infrastructure of decentralized finance (DeFi).

 Headquarter of Coin98 Finance in Vietnam. Photo: Coin98 Finance

Coin98 Finance focuses on building a comprehensive ecosystem of DeFi protocols and applications across multiple blockchains. The startup is developing Coin98 Wallet, Coin98 Exchange, and other fascinating DeFi products.

“Alameda Research strengthens our vision to reach vast expansion and adoption through its extensive support. With Alameda Research's investment, our team will begin to scale up and swell resources to boost all products in development and innovate additional products to contribute to maturing the DeFi infrastructure,” a representative from Coin98 Finance said.

Earlier, Coin98 Labs, a DeFi product builder focusing on creating and developing an ecosystem of DeFi protocols and applications on multiple blockchains, announced the completion of a US$1.25 million seed round led by ParaFi Capital, Multicoin Capital, Hashed and Spartan Group for its second product, Coin98 Exchange.

Coin98 Finance has over 200,000 users primarily in Southeast Asia and its monthly volume is about $20 million.