Kira, a Singapore-based decentralized fintech, announced on Wednesday it secured $2.2 million through its latest investment round, which was led by BTC12 Capital. Founded in 2019, Kira describes itself as a next-generation hyperscale decentralized exchange engineered for cross-chain transfer and frictionless trading experience.
“We are building the first decentralized exchange that is truly capable of competing not only with other decentralized exchanges but also with centralized ones which currently facilitate majority of all trading in blockchain industry. With zero points of failure, large variety of trading pairs and highly scalable consensus engine we aim to deliver market the exchange it has been waiting for years.”
Kira further explained that its embedded liquidity pool is designed to address this demand. The company’s liquidity pool model notably allows every asset holder to generate staking rewards on the Kira network. Speaking about the investment round, Co-founder and CEO of Kira, Milana Valmont, stated:
“This latest round shows the confidence in the project from the crypto community and validates our vision for Kira and liquid staking. We are humbled to have received such unprecedented demand from investors and support from the ecosystem.”
Funds from the investment round will be used for the growth and development of the Kira platform.