DEFYCA, a Luxembourg-based digital securities platform, has announced that it has completed a $1.3 million seed round. The round was led by QBN Capital and Blizzard Fund.
About DEFYCA Protocol
Platform believes that traditional finance and the decentralized financial market are insufficient for investors. Seeing the problems of both markets, platform is developing a blockchain protocol that acts as a bridge between the two platforms. While the protocol solves the problems of the markets, it also provides investors with the opportunity to invest in both stablecoins and private credit markets thanks to tokenized assets. In addition, the protocol developed by the platform is designed to eliminate the counterparty risk of investors. The platform’s collected investment will be used to launch the protocol it has developed. Pat Hourigan, co-founder of DEFYCA, said:
“Our goal is to provide access for investors to invest in private credit markets frictionlessly business, whilst providing debt funds with a fully digital end-to-end infrastructure built on blockchain technology. The DEFYCA protocol is built using existing, proven, resilient, scalable, high-performance infrastructure, connected with digital and crypto financial markets.”
The platform is a digital asset securities firm co-founded by Pat Hourigan and Alex Garmash. Platform offers users a protocol that solves problems between decentralized finance and traditional finance. The protocol is currently in the testing phase and is scheduled to be launched in the first quarter of 2023.