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May 31, 2022
by Usha Yadav
Checkout.com Founder Backs DeFi Platform Alloy
In a $3 million pre-seed round led by Headline Ventures, Checkout.com founder Guillaume Pousaz has backed Alloy's German DeFi platform. Pousaz had invested through his family firm Zinal Growth, along with Sorare founder Nicolas Julia and Seedcamp, according to an announcement made this morning by Alloy. Alloy wants to establish a decentralized finance (DeFi) network for institutional investors, who, according to CEO Paul Faecks, are still unwilling to join the DeFi ecosystem despite their interest.
"So the majority of the problem is regulatory and on the client-side of things," he explains, noting that Alloy is one of the first companies in the EU to offer regulated DeFi methods.
Alloy can do so because it is governed through a partnership with a custodian, according to Faecks. He also claims that the corporation is considering getting governed directly by BaFin, the German regulatory organization. A large portion of the $3 million will be spent obtaining such approval and developing the platform's technical backbone. The platform, which will debut on the Ethereum network in late 2022, is aimed at serving funds and family offices, particularly those belonging to IT founders who are already familiar with cryptocurrency. According to Faecks, the platform has five confirmed funds for launch, all situated in the EU and the US.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.