DeFi Platform Coinchange Raises $10 Million in Funding to Expand Digital Asset Services
In Brief
Coinchange raised $10 million funding to fuel the growth of the company’s existing crypto services, products and attract new clients.
Canada-based digital asset platform Coinchange successfully raised $10 million in a recent funding round to fuel the growth of the company’s existing services, enhance existing products, and attract new clients.
Coinchange said the funding will help the firm to scale its API-based yield service for Ethereum (ETH), Bitcoin (BTC) and other major Stablecoins. The round was led by prominent investors including G1.VC, Spirit Blockchain, Good News Ventures, K2.CA, and Atoia Ventures, with participation from Mintfox.
“At Coinchange, we’re building the infrastructure to enable compliant access to DeFi and ultimately, bring Wall Street to the main street! As part of our expansion plans with this funding, we’ll continue to improve our products and expand our clientele to provide the simplest and most secure ways to earn passive income on crypto holdings,” said Maxim Galash, CEO of Coinchange.
“We believe DeFi has the power to reshape the global financial system by offering fast, cheap, and inclusive financial services to everyone with an internet connection. In time, by growing our brand, we aim to have Earn API empower fintechs and exchanges to unlock yield-earning accounts for millions of users across the globe,” Galash added.
The company is currently focusing its efforts on reaching out to other businesses, with a primary emphasis on crypto exchanges interested in providing trading and yield options to their clients. Coinchange is delivering this capability through its Earn API service, offering yield-farming strategies within decentralized finance (DeFi) markets.
Crucially, with all assets managed on the blockchain, the firm mitigates reliance on centralized counterparties for custody, trading or lending, thus averting potential counterparty risks for clients.
API partners benefit from complete asset visibility and reporting transparency, enhancing confidence in how their assets are managed and further empowering users to maximize returns on their crypto holdings.
According to Coinchange, beyond Earn API, the firm operates regulated and compliant brokerage services in the US and across Europe, in line with the commitment to industry best practices.
Coinchange’s Unified DeFi Solution
Coinchange’s Earn API infrastructure presently supports all major stablecoins, BTC and ETH for trading and earning yields. This integration works by embedding an institutional-grade active stablecoin yield portfolio directly into fintech application interfaces, offering multifaceted advantages.
These include the creation of new revenue streams, improved customer retention and conversion rates, and enhanced regulatory compliance, among other benefits.
“DeFi remains very fragmented due to its complexity and the sheer number of applications operating in the space. After over three years of effort, Coinchange has addressed this hurdle with a platform that enables universal execution across multiple blockchains with data-driven strategies. By leveraging machine learning sequencing of yield opportunities, we can provide real-time tracking, reporting, and computing for clients,” said Albert Sheynzon, President of Coinchange.
“This is transforming the way people think about their cryptocurrency holdings by enabling simple ways to earn passive, stable income. With over 500 business clients and growing, we believe we have the potential to become a leader in the crypto finance space, and we’re excited to accelerate our trajectory with this funding round,” Sheynzon added.
As the crypto finance space continues to evolve, Coinchange’s trajectory signals the broader transformative power of DeFi in democratizing financial services.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
