Wednesday, 12 May 2021 11:45 AM
Company Update
SINGAPORE / ACCESSWIRE / May 12, 2021 / Spherium Finance, a decentralised and borderless financial ecosystem that gives users complete control of their finances, has officially announced the successful closing of its seed and private rounds with a total of $3.3 million raised from various well-known names in the blockchain investment space, including Gate.io Exchange, Orion Protocol, AU21, Rarestone Capital, GBIC, LD Capital, NGC Ventures, and Blockdream Fund, among other leading investment firms.
Spherium Finance looks to create a comprehensive ecosystem for the global unbanked during a time when DeFi tools and platforms are still fragmented, making the space difficult for newcomers. With a highly experienced and diverse team of professionals with backgrounds in areas such as fintech, law, KYC/AML and smart contract development, Spherium Finance looks to push the envelope for what is possible in the DeFi industry in the coming months.
Alex Berstein, CEO of Spherium, said, "Fintech means agility, cost-efficiency, and quick innovation. The current DeFi landscape is booming with innovation, but there are visible gaps. At Spherium, we bridge these gaps by taking a grounds-up development approach." He continued, "Our solutions address critical challenges, including the high cost of DeFi transactions, network congestion, and at the same time, we build an ecosystem that rewards every network participant."
Spherium's ecosystem includes various innovative products, including HyperSwap, an innovative protocol that enables cross-chain swaps whilst mitigating the risk of impermanent loss via the application of "Virtual Balances"; SphereComp, which gives users access to decentralised moneymarkets that enable lending or borrowing of digital assets with interest rates that are determined by the law of supply and demand; and the Spherium Wallet, which gives users a secure and non-custodial place to store their assets with additional connectivity to a wide array of DeFi platforms, thanks to the WalletConnect protocol.
With an upcoming IDO to be announced in the coming days, the Spherium Finance platform will welcome a new wave of DeFi participants and will work toward changing the face of finance during an age of economic instability and rapidly evolving technology.
About Spherium Finance
Spherium Finance is a decentralised and borderless financial ecosystem that aims to provide a circular consensus economy for DeFi while offering a convenient solution to the current industry fragmentation. Spherium does this by offering a unified platform with cross-chain functionality, mobile-first AMM, decentralised money markets, a user-friendly experience, and multi-wallet integration. Spherium will offer users complete control of their finances while being able to manage and trade assets on large liquidity pools cost-effectively & efficiently.
Press Contact:
David Barr
[email protected]
Website: https://spherium.finance/
Twitter: https://twitter.com/SpheriumFinance
Telegram: https://t.me/SpheriumCommunity
Medium: https://spheriumlabs.medium.com/
SOURCE: Spherium Finance