Categories: Business

Wombat Exchange Raises $5.25M in Series A Funding Led by Animoca Brands and Hailstone Ventures By DailyCoin

[ad_1]

Wombat Exchange Raises $5.25M in Series A Funding Led by Animoca Brands and Hailstone Ventures

Wombat Exchange , a hyper-efficient multichain stableswap backed by Binance, has successfully closed a $5.25 million Series A funding round led by Animoca Brands and Hailstone Ventures. Additional investors in the round included BNB Chain, TPS Capital, GSR, Zokyo, Lunar Station, Eureka Trading, Silverstone, Unanimous Capital, and CryptoWesearch.

With this latest round of funding, Wombat’s valuation has increased to $70 million since its seed round investment led by Binance Labs in November 2021. Capital from this round will accelerate Wombat’s product development and expansion.

“Wombat Exchange has put together a solid and experienced team to develop a stableswap that has the potential to significantly advance the growth of DeFi. We’re looking forward to seeing Wombat’s meaningful contribution to the BNB Chain and its adoption in the multichain world.”

– Yat Siu, Co-Founder & Executive Chairman of Animoca Brands.

“We were impressed by Wombat’s innovation, and we strongly believe in their contribution to the ecosystem. Their algorithm and solution are pioneering and will support the protocols that will shape the future of DeFi for the better.”

– Seng Huang Lee, Hailstone Ventures Advisor & Group Executive Chairman of Sun Hung Kai & Co.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

[ad_2]
Source link
Admin

Recent Posts

Smash Karts Game Review

Smash Karts stands out in a world of racing simulators by providing fast-paced fun. Unlock…

4 days ago

Window Double Hung Windows

Homeowners tend to favor double-hung windows due to their versatility. They provide excellent ventilation and…

6 days ago

The Best Places to Visit in Italy

Italy inspires like few other places on Earth with its remarkable art, ancient temples, and…

7 days ago

Choosing Foreign Betting Sites

Foreign betting sites offer a diverse selection of markets and often feature loyalty programs that…

7 days ago

Index Match Google Sheets

Index Match Google Sheets is a function within Google Spreads that can be used to…

2 weeks ago

What is Google LLC on My Mac?

Many users have been wondering, "What is Google LLC on my Mac?" and why they…

2 weeks ago