Digital Finance Group, a global blockchain and cryptocurrency investment firm, recently announced it has invested $1.5 million in a private funding round as the head investor for Rivet, an Ethereum infrastructure service built on open-source technology. The funding will be used to grow the Rivet team, develop its product, and enable it to provide more services for its users.
In three years, DeFi protocols have locked in more than $95 billion in assets, signalling its massive potential for additional growth. To become the new standard in 21st-century global finance, Digital Finance Group said DeFi projects must focus on laying a stable and secure foundation as much as they champion innovation and breakthrough tech.
Rivet serves as a bridge toward web 3.0 and provides the infrastructure developers need to leverage DeFi to a more advanced level. The emerging open-source service interacts with smart contracts on the Ethereum blockchain. The company offers a privacy-first node service, gathering minimal data without selling it or sharing it with third parties. Rivet delivers connectivity to the Ethereum blockchain and provides developers with endpoints that consistently deliver high-end performance and stability.
“Rivet is bringing real value and scalability to the ecosystem and we are happy to support them,” says James Wo, founder and CEO of Digital Finance Group. “They share our vision of a safer, faster, and more open internet, and we are looking forward to their ongoing development of the maturing DeFi movement.”
“We are thrilled to receive the backing of Digital Finance Group, an investment firm passionate about promoting Web 3.0 technologies,” says Austin Roberts, CEO of Rivet. “We are proud to be a strong link towards a decentralized internet and are excited to offer our users the services they need to build game-changing products without holdbacks or disruptions.”