Sovryn, a London, UK-based Bitcoin-native DeFi platform, raised $5.4M in funding.
The round was led by General Catalyst, with participation from Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan.
The company intends to use the funds to expand its global financial operating system designed to provide individual self-sovereignty and financial autonomy to people.
Led by CEO Edan Yago, Sovryn is a Bitcoin-native, decentralized trading and lending platform that empowers users to trade bitcoin in a permissionless, non-custodial, and censorship-resistant way by ensuring that users hold the keys to their bitcoin and have autonomous control over them. The platform delivers a wide variety of financial services such as spot and margin trading, borrowing and lending, and liquidity providing across investment pools built on the foundation of bitcoin as the reserve currency of the future.
The company said it has reached the following results:
- Total spot traded volume of $1,552,421,305
- Total margin traded volume of $112,131,176
- $322MM+ in total has been borrowed and lent on the platform
- Over $214m in lending activity
- The total number of individual wallets has grown to almost 50,000+
FinSMEs
13/10/2022