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CeDeFi expansion plans announced by Unizen following $200M investment

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Pavan A Follow

INDIA

Jun, 29 2022

Jun, 29 2022

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Global Emerging Markets (GEM) has committed $200 million to Unizen for the company's decentralized and centralized exchange services, expanding its team, and spurring innovation.

The CeDeFi space, in which traditional, centralized finance is integrated with decentralized financial services, combining modern regulatory control with the positives of DeFi, is one of the most dynamic sectors in the financial services sector. Unizen is one of the largest players in this space.

GEM provides a portion of funding upfront, while the rest is unlocked later once certain criteria have been met, unlike traditional funding rounds that can result in startups grabbing a huge chunk of cash.

Unizen announced Monday that it will receive $200 million as an initial capital commitment over the course of the year, with part of the funding forthcoming upfront and the rest contingent upon achieving milestones.

Unizen’s CEO Sean Noga said, “We are proud to welcome GEM to the Unizen Ecosystem as a potent and strategically aligned growth partner that can support the rapid expansion of the Unizen platform, brand and community.”

CeDeFi reduces transaction costs and ensures tighter regulation while enabling new decentralized exchanges, liquidity aggregators, and credit protocols.

CeDeFi hopes this will encourage financial services and traditional players to embrace smart contracts and decentralization, which will allow them to gain easier access to capital.

With Unizen, GEM will be involved with a technology that has the potential to transform financial services. GEM controls a $3.4 billion fund focused on emerging markets, in which CeDeFi is included.

 Also Read | Binance MVBIV program accepted AlgoBlocks DeFi project along with 17 other projects


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Pavan A

CBW - External Analyst

INDIA

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