Coinchange, a digital asset platform that enables businesses to trade and access yield as a service, has announced raising $10 million in its latest funding round to help finance its planned expansion.
The round was backed by key investment players including Good News Ventures, Spirit Blockchain, G1.VC, K2.CA, and Atoia Ventures. Mintfox also participated, per the announcement. The company said it will use the fresh funds to support the expansion of its operations, boosting its popular products, and getting more clients.
With this capital, Coinchange is well-positioned to scale its team and products to make a meaningful impact on the financial landscape, leveraging unrivaled yield farming strategies in decentralized finance (DeFi) markets, according to the announcement.
Coinchange’s Earn API infrastructure currently supports all major stablecoins, Bitcoin, and Ethereum for trading and earning yield. Earn API works by embedding institutional grade active stablecoin yield portfolio directly into fintech application interfaces.
The advantages of using Earn API include new revenue streams, better customer retention and conversion, and improved regulatory compliance, among others.
With all its assets managed on the chain, Coinchange doesn’t have to rely on centralized counterparties for custody, trading, or lending and therefore, potentially introduce counterparty risk to clients.
API partners have complete asset visibility and reporting transparency over how it is being managed, per the announcement. Coinchange’s yield optimization and risk trenching strategies also help users maximize returns on their holdings.
“By leveraging machine learning sequencing of yield opportunities, we can provide real-time tracking, reporting, and computing for clients. This is transforming the way people think about their cryptocurrency holdings by enabling simple ways to earn passive, stable income,” said Coinchange president Albert Sheynzon.
Coinchange prioritizes security and risk mitigation, working closely with regulators to maintain compliance and trust. Coinchange’s proven framework of DeFi risk management, expert research, and real-time portfolio monitoring ensures security irrespective of market conditions.