Coinchange raises $10M for its DeFi yield API

Coinchangea Canadian fintech that offers a API allowing companies to offer their customers an access to DeFi productshas just collected 10 million dollars at series B.

Founded in 2018 in Toronto, Coinchange has designed a platform and programming interface (API) aimed at democratizing decentralized finance.

Thanks to its API, companies can enable their customers to access “high-yield” DeFi products on Bitcoin, Ethereum and several major stablecoins directly from their application.

At the same time, its platform offers “innovative” DeFi solutions for professionals such as financial advisors, hedge funds and high-net-worth investors.

This Wednesday, Coinchange announced that it had closed a $10 million Series B funding round. The fundraising was led by G1.VC, Spirit Blockchain, Good News Ventures, K2.CA and Atoia Ventures.

The fintech said the funding would enable it to scale up its services.

DeFi remains highly fragmented due to its complexity and the large number of applications operating in the space. After more than three years of effort, Coinchange has overcome this obstacle with a platform that enables universal execution across multiple blockchains,” said Albert Sheynzon, Coinchange’s president, in a statement shared with RoyalsBlue.com.

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