Veda raised 18 million USD in a funding round spearheaded by CoinFund, with contributions from notable investors like Coinbase Ventures and Animoca Ventures. This investment aims to accelerate the adoption of its DeFi vault platform.
Assets locked on Veda have surpassed 3.3 billion USD, reflecting a strong market trust. Veda focuses on various DeFi applications, particularly in tokenizing yield-generating stablecoins.
CoinFund’s involvement indicates a belief in the accelerating adoption of stablecoins. The rise of yield-generating stablecoins presents a challenge to traditional banking savings, according to industry leaders.
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