Decentral Park Capital, an early-stage investment firm, now with $140 million in assets under management, has launched a brand new $75 million fund to invest in DeFi initiatives. This fund aims to deploy funds to invest in decentralized exchanges, lending protocols, derivatives, structured products, oracles, staking, and middleware infrastructure. The money pouring into decentralized finance and blockchain tools is huge, with hundreds of millions being committed by sophisticated “big money” investors. John Quinn, the firm’s founder, said that returning investors for the fund were mostly family offices, which are private wealth management vehicles for high net worth individuals and families. No longer a side investment, decentralized finance is an important part of high-net-worth investors’ portfolios. Companies such as Marathon Digital Holdings (NASDAQ:MARA), Galaxy Digital (TSX:GLXY) (OTC:BRPHF), Mobilum Technologies (CSE:MBLM) (OTC:MBLMF), Virtu Financial (NASDAQ:VIRT), and Wellfield Technologies (TSXV:WFLD) are opening the world of decentralized finance to the masses, and investors continue to pour money into the space.
Newly listed DeFi R&D company Wellfield Technologies (TSXV:WFLD), has partnered with Exaud, LDA to establish a development hub in Portugal, which will support its Seamless branded Bitcoin and Ethereum blockchain technology. Levy Cohen, CEO of Wellfield, believes that expanding the company’s developer resources will provide the depth required to expand the ecosystem around Seamless as well as launch ancillary services on top of its infrastructure.
Last month, Wellfield also announced that its other subsidiary, MoneyClip Inc., has launched an intensive engagement program geared toward growing its user base and signing retail partners as it prepares to introduce additional functionality through 2022.
MoneyClip app can be downloaded for iOS and Android in Canada. As of now, it offers P2P payment functionality, but Wellfield plans to add enhanced financial products and functionality to make MoneyClip a primary financial interface in the near future.
In the days that followed, Wellfield Technologies announced that Amir Shpilka, an internationally recognized professor and researcher, had been added to the advisory board. This follows the appointments of Global Payments and Fintech Leader William Keliehor and Global Financial Leader Professor Tamir Agmon.
“Our success in developing novel and high-value blockchain technologies is largely due to the Company’s access to a breadth and depth of academic expertise that few Fintech organizations are able to access. Since 2018, Amir has played an active role in the planning and architecture of all our services, including the cross-blockchain trading protocol, our product designed to make Bitcoin compatible with DeFi, as well as other purpose-built IPs. We are honoured to have Amir join the Company’s advisory board, look forward to continuing to leverage his expertise and appreciate his continued contributions to our research efforts,” Levy Cohen, CEO of Wellfield, said.
After focusing on developing solutions for both Seamless and MoneyClip in 2021, Wellfield is concentrating on introducing solutions that make bitcoin compatible with DeFi, enable decentralized cross-blockchain trading, allow existing DeFi liquidity providers to scale, and empower non-participating institutions to put capital to work within familiar risk frameworks.
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DeFi Companies Break Into 2022 With Remarkable Progress
Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF), a technology-driven company that makes traditional finance accessible through digital payment infrastructure and digital asset management technologies, officially welcomed fintech veterans Kasha Piquette and Robert Niziol to its Board of Directors on January 4. This progress follows the agreement Mobilum signed last year with Wyre, a leading fiat-to-crypto and payment infrastructure company that supports customers in over 100 countries worldwide. Mobilum also recently upgraded its on-ramp payment processing platform by integrating over 200 acquirers and a banking rails ecosystem for better fraud detection and increased transaction approval rates. The upgrade will give Mobilum global access to banks and merchant accounts and reduce implementation times.
Marathon Digital Holdings, Inc. (NASDAQ:MARA), one of the largest enterprise Bitcoin mining companies in North America, today published Bitcoin production and miner installation updates for December 2021. Among the highlights is a year-over-year production surge of 846% to 3,197 BTC in 2021, increasing total holdings to nearly 8,133 BTC with a fair market value of approximately $375.8 million.
Galaxy Digital (TSX:GLXY) (OTC:BRPHF) just announced that its affiliate, Galaxy Digital Asset Management (GDAM) reported preliminary assets under management (AUM) of $2.87 billion for the month of December 2021. GDAM is a diversified asset management firm dedicated to the digital assets and blockchain technology space. The company manages capital on behalf of external clients through two business lines: Galaxy Fund Management and Galaxy Interactive.
A leading provider of financial services, Virtu Financial (NASDAQ:VIRT), has agreed to contribute market data across equities, FX, futures, and cryptocurrencies to Pyth Network, a decentralized data distribution network marking a significant milestone in DeFi’s journey.
As the year 2022 unfolds, companies like Wellfield Technologies (TSXV:WFLD) could achieve remarkable success as the industry grows and funds are poured into DeFi initiatives by institutional investors.
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