Num Finance Has Raised $1.5 Million
Num Finance has raised $1.5 million in a pre-seed funding round led by Reserve. The round also included participation from H2O Scouter Fund, VC3 DAO, Ripio Ventures, and Matias Woloski, the CTO of Auth0.
Num Finance is a decentralized finance (DeFi) protocol that is building a suite of products to make it easier for people in emerging markets to access financial services. The protocol’s first product is a stablecoin pegged to the Brazilian real. Num Finance plans to use the funding to expand its product offerings and to grow its team.
The funding round is a significant milestone for Num Finance. It shows that there is investor interest in DeFi projects that are focused on serving emerging markets. Num Finance is well-positioned to succeed in this space, as it has a strong team with experience in both DeFi and emerging markets.
Num Finance Will Expand Stablecoins in Latin America, Middle East
Num Finance has announced plans to expand its stablecoin offerings in Latin America and the Middle East. The protocol will launch tokens pegged to the Brazilian real, Colombian peso, Mexican peso, and Bahraini dinar within the next month. It will also focus on growing its real-world asset offering, starting with the tokenization of money market financial instruments.
This expansion is part of Num Finance’s mission to make it easier for people in emerging markets to access financial services. Stablecoins are a key part of this mission, as they provide a more stable and secure way to store and transfer value. Num Finance believes that its stablecoins will be well-received in Latin America and the Middle East, as these regions have a high demand for stable and secure financial services.
The expansion of Num Finance’s stablecoin offerings is a significant development for the DeFi space. It shows that DeFi protocols are starting to focus on serving emerging markets, which is a large and growing market. Num Finance’s expansion is likely to help to drive adoption of DeFi in Latin America and the Middle East.