Crypto Startup Neutrl Raises $5M to Tokenize a Popular Hedge Fund Altcoin Trade

Crypto Startup Neutrl Raises $5M to Tokenize a Popular Hedge Fund Altcoin Trade

Novel decentralized finance (DeFi) protocol Neutrl aims to bring a hedge fund trade — once limited to sophisticated investors — to the masses in the form of a crypto token.The protocol is launching its NUSD "synthetic dollar" token, designed to generate returns by arbitraging discounted altcoin deals in over-the-counter (OTC) markets, the team told CoinDesk in an exclusive interview.Neutrl also raised $5 million in seed funding led by digital as…

Neutrl’s Bold $5M Raise: Fueling The Future Of DeFi Protocol Investment - Data Intelligence

Exciting news is buzzing in the decentralized finance (DeFi) space! Neutrl, a promising DeFi protocol project, has just announced a successful $5 million seed funding round. This substantial injection of capital is poised to accelerate Neutrl’s mission and potentially reshape the landscape of blockchain investment. Let’s dive into the details of this significant development and explore what it could mean for the future of DeFi. Neutrl Secures $5…

DeFi Protocol Neutrl Raises $5M to Bring Its Synthetic Dollar to the Masses

Quick take: Neutrl wants to bring hedge fund-style crypto yield strategies to investors using a single token. Digital asset private marketplace STIX and venture firm Accomplice led the seed round, with participation from Amber Group, SCB Limited, Figment Capital and Nascent. Neutrl is targeting to grow to $2 billion in assets in two years as it estimates over $10 billion worth of altcoins set to unlock in the next few years. Neutrl, a decentral…

Neutrl Raises $5M to Tokenize a Popular Hedge Fund Altcoin Trade

U. S. dollar (Unsplash, modified by CoinDesk)