Cake DeFi Launches New Corporate Venture Arm With US$100 Million Funds
Decentralized financing platform Cake DeFi, has formed a corporate venture arm with a budget of US$100 million in designated funds. It is based and registered in Singapore, and it complies with all of the Monetary Authority of Singapore’s regulatory requirements (MAS).
Cake DeFi Ventures (CDV) will invest in innovative businesses spanning Web3, the metaverse, NFT space, gaming, esports, and finance that will value Cake’s primary business. Furthermore, CDV intends to invest in businesses all around the globe. CEO and CTO of Cake DeFi Dr. Julian Hosp and U-Zyn Chua spearheads CDV. With over one million followers on all of his social media platforms, Dr. Hosp is generally considered a key influencer in the crypto and blockchain industry.
Julian Hosp, Co-founder and Chief Executive Officer of Cake DeFi said:
“By launching Cake DeFi Ventures, we strive towards bringing cryptocurrency and blockchain capabilities to the world. With Cake’s current status as Singapore’s and Southeast Asia’s fastest-growing platform, projects which we invest in can expect to receive strong support scaling globally.”
CDV’s portfolio firms may look forward to receiving significant assistance from Cake DeFi and having access to multiple Cake products, contacts, users, resources, and competence in the worldwide blockchain market.
Customers received a total of US$230 million in incentives this year, with US$75 million of that coming in the fourth quarter. In 2021, the corporation increased its clients’ assets by a factor of six. By the end of 2022, Cake DeFi plans to pay out US$400 million in incentives to clients, which may rise to as much as US$1 billion if cryptocurrency values continue to rise.
U-Zyn Chua, Co-founder and Chief Technology Officer of Cake DeFi said:
“As an extension of our multiple blockchains supports and having built up an R&D arm with cryptography deep tech capability and specialization, investing in companies that bring synergies to Cake DeFi’s core business will allow us enhance our Web3 offerings.”
As the first investment, Cake DeFi Ventures has invested in The Edge of Company, a media, events, and technology company. Cake DeFi’s entry into the NFT and Web3 spaces will be aided by its cooperation with The Edge of Company, the premier NFT podcast, and ecosystem creator.
Jeff Kelley, Co-Founder, The Edge Of Company, Inc said:
“The entire team at The Edge Of Company is honored to have Cake DeFi Ventures as part of the Edge family. Their know-how, relationships, and strategic insights will help propel this Web3 rocketship to new heights across our platform of tech, media, and events.”
Launched in 2021 with the Edge of NFT Podcast, the company has since organized the NFT LA conference. The biggest NFT & Web3 meeting in Southern California, NFT LA, will be held March 28-31, 2022, and the podcast will continue to showcase “the top 1% in NFTs today and what will stand the test of time,” with over 100 episodes.
The company’s product plan for 2021 included a wide range of decentralized asset classes, all of which are completed and are available on Cake DeFi. These include Staking, Freezer, and Lending. There will be a loan function deployed in Q1 2022 for this year’s plans. The corporation will launch a new “cash flow visualization by assets” section and a “learn & earn” program to make it more user-friendly. Cake DeFi also aims to simplify and streamline the integration of the whole DeFi ecosystem.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/cake-defi-launches-new-corporate-venture-arm-with-us100-million-funds/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
