Torrams Pre-Seed Closure Paves the Way for Institutional-Grade DeFi on Bitcoin
[PRESS RELEASE Toronto, Canada, January 16th, 2025]
Torram, a Web2.5 infrastructure company, has announced the successful closure of its $710,000 pre-seed funding round in early December 2024. The company is focused on developing institutional-grade decentralized finance (DeFi) infrastructure directly on Bitcoin, positioning itself as a key enabler of innovation in the evolving financial ecosystem.
The funding round included participation from prominent investors such as Draper Associates, Blockchain Founders Fund, Boost VC, Side Door Ventures, Deep Ventures, MH Ventures, Silvermine Capital, and Trive Digital.
This oversubscribed round is a testament to the growing demand for infrastructure that meets institutional needs, said Vakeesan Mahalingam, CFA, CEO of Torram. Were building what others havent dared toseamless, reliable systems on Bitcoin that will redefine the trillion-dollar financial landscape.
Building Institutional DeFi on Bitcoin
Every day, billions of dollars move between institutions on invisible financial infrastructure. Torrams mission is to replicate that seamless reliability within DeFi. By developing advanced enablement technology, Torram empowers companies to build robust Bitcoin-native applications while enabling institutions to leverage Bitcoin as a secure settlement layer for financial transactions.
Our goal is simple, explains Mahalingam. Were building infrastructure that powers institutional DeFiutilizing Bitcoins security, DeFis innovation, and bank-grade reliability.
Torrams Bitcoin-native toolkit will include:
- Decentralized Oracle Network: Real-time, secure data feeds for institutional use, enabling high-stakes operations. Imagine financial data stored on Bitcoin blockchain using Bitcoin as a settlement layer for fixed income transactions.
- Decentralized Indexer Network: Comprehensive indexing for Bitcoins ecosystem, empowering developers to query blockchain data and build applications. Similar to a search engine for data stored on Bitcoin; organized and easily accessible. With Torrams indexers, developers can easily find the data they need.
- Decentralized APIs: Standardized tools for seamless data integration, bridging traditional finance (TradFi) with decentralized networks.
Ecosystem Traction and Market Opportunity
Torram reports strong interest in its technology, with over 40 projects awaiting integration. This underscores the rising demand for reliable infrastructure as Bitcoin continues to expand its role in global finance.
Bitcoins market cap surpassed $2 trillion in December 2024, reflecting its growing significance. As institutional interest in blockchain technology reaches new heights, the need for scalable solutions tailored to financial institutions has never been greater.
Torrams technology bridges the gap between Bitcoins potential and institutional requirements, Mahalingam said. Were in the pick-and-shovel business of building on Bitcoin. By 2027, tapping to pay with Bitcoin-native stablecoins will feel as effortless as sending an emailand our infrastructure will make it possible.
About Torram
Torram is a Web2.5 infrastructure company dedicated to building Bitcoin-native technology that powers institutional-grade decentralized finance (DeFi) and real-world asset tokenization directly on Bitcoins base layer. This critical infrastructure on Bitcoin will enable financial institutions and developers to create robust applications that will power the future of finance.
X(Twitter): @torram_xyz
Website: torram.xyz
Disclaimer:
This press release contains forward-looking statements. Actual results may differ materially due to various factors. This is not an offer to sell or a solicitation to buy any securities. The information does not constitute legal, financial, or investment advice. Readers should conduct their own research and consult with professional advisors before making any investment decisions or entering into any agreements. Torram does not guarantee any specific outcomes or returns on investment. Torram and its investors are not responsible for any actions taken based on this communication. To see our full disclaimer statement, visit here.
The post Torrams Pre-Seed Closure Paves the Way for Institutional-Grade DeFi on Bitcoin appeared first on CryptoPotato.
Text source: CryptoPotato
