Web3 startup Helix raised $2 M Pre-seed funding from Saison Capital, Superscrypt
Lending on blockchains has long been a significant component of the Web 3. As of March last year, the segment represented half of the total value locked, or the amount of assets currently staked, on the Ethereum blockchain.
Lending platforms, on the other hand, continue to face growth challenges as the bear crypto market keeps driving down lender interest. Linking to real-world assets (RWAs), which can reduce cryptocurrency volatility, is a trend among companies trying to recover from this slump.
Helix, a Web3 startup incubated by Singapore’s Helicap, is one company in Southeast Asia that is attempting to do this. By using smart contracts and tokenized collateral, it aims to build a platform that gives lenders access to stable yields connected to RWAs.
In a pre-seed round, the business secured US $2 million from strategic investors Saison Capital and Superscrypt.
RWA credit is a high-potential market with more consistent yields, claims Helix. It did acknowledge, however, that the sector continues to struggle with problems like poor credit risk assessment, a lack of origination pipelines, and liquidity issues.
The business claimed that it gets around these obstacles using its unique credit assessment tools. It also boasts the support of Helicap, a company that specializes in the private credit market in Southeast Asia.
Targeting accredited and institutional investors, Helix intends to launch on Ethereum in the fourth quarter of this year. Additionally, it wants to expand the RWA credit ecosystem by collaborating with stablecoin suppliers, exchanges, and other lending protocols.
