Wemade Co., Ltd. has made a strategic seed investment in CLST, a short-term money markets platform for institutions participating in the virtual asset financial market.
CLST is a Swiss-based company that has already obtained approval from Swiss regulators to arrange short-term financial transactions for virtual assets. Wemade participated in the investment along with Spartan Group, Coinbase Ventures, and Kraken Ventures.
CLST Market, a short-term financial trading platform for institutions, was soft-launched and operated in May, and more than 30 institutions are already registered. Amber Group, GSR, Algorand, etc. are CLST’s customers.
It is a platform that provides services that automate price negotiation and settlement between institutions seeking to borrow and lend virtual assets, and strengthens liquidity and reduces risks in the virtual asset market.
Through this strategic investment, Wemade plans to expand the financial and DeFi ecosystem within WEMIX 3.0 and expand its business into the European region.
Hyun-guk Jang, CEO of Wemade, said, “DeFi based on blockchain, which cannot be counterfeited or altered, will replace the traditional financial market,” adding, “We will provide various DeFi services on mainnet Wemix 3.0, based on the 100% reserve stable coin Wemix Dollar. “We will present it,” he said.
Source: Pangyo Techno Valley Official Newsroom
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