DeBank Scores $25M Equity Funding Round Led By Sequoia China
A defi wallet has secured multi-million dollar funding from various crypto firms, offering market-wide defi data.
Sequoia China, a finch startup capital firm, has led a multi-million dollar fundraising round for DeBank, a cryptocurrency wallet for monitoring decentralized finance apps. The value of the defi wallet now exceeds $200 million.
- Debank tweeted on Tuesday that it had just obtained additional capital.
- The investment round also included contributions from Dragonfly, Yuobi, and Hash Global.
- Additionally, it included “strategic investments” from several well-known cryptocurrency businesses, including as Coinbase Ventures, Crypto.com, Circle, and Ledger.
- DeBank’s Defi wallet aids in the market-wide tracking of many types of Defi data, such as daps, DEXs, and Defi interest rates.
- Users may obtain data for stable coins, margin trading platforms, decentralized lending protocols, and more while browsing through different Defi assets and initiatives.
- DeBank now provides access to 798 Defi protocols on a number of well-known chains, including as Ethereum, Binance Smart Chain (BSC), Avalanche, Polygon, and others.
- It was co-founded by Tang Hongbo, a research and development specialist headquartered in Shanghai.
- In China, where Bitcoin mining and trade have been explicitly forbidden, Defi may become especially well-liked. In comparison to centralized options, enforcement action against some defi protocols may prove to be far more challenging—or perhaps impossible—for the government to implement.
It provides options like the Defi wallet for managing and tracking your Defi portfolio, stable coins, comparison platforms for decentralized changes, data & analytics for decentralized loans, and more. For token trading, it offers token swap.