Vauld raises $2 mn for India expansion

Bengaluru: Vauld, cryptocurrency-based lending, and decentralized finance (DeFi) platform has raised $2 million (Rs 14.7 crore) in a funding round to expand in India.

The Singapore- and Bengaluru-based company, which is registered as DEFI Technologies Pte Ltd, has raised this capital from a clutch of investors. These include Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos Capital, and LuneX Ventures

Vauld was set up by Darshan Bathija and Sanju Sony Kurian. The company’s platform allows users to lend various cryptocurrencies and earn interest on them. It is also seeking to become a holistic DeFi platform that will offer payments, credit, and trading.

“We also look forward to closely working with the commodities and banking regulators in the country and ensure our partners are and remain fully compliant through the changing regulatory landscape,” Bathija said.

It will use the capital it has raised to focus on hiring and expanding its presence in India, as well as expand to underpenetrated markets and promote the adoption of digital tokens and cryptocurrencies as a legitimate asset class.