A $25 million Series A investment has been made in Vauld, the global platform for producing wealth with cryptocurrencies.
Valar Ventures was the lead backer. Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos, Robert Leshner, Cadenza Capital, and others participated in the round as well.
While its retail crypto banking and investment platform expand, a portion of the funds will be utilized to promote international growth and licensing. In addition, the firm intends to add at least a hundred additional employees to the workforce.
Vauld, based in Singapore, has partnered with Binance and Bitgo to create an asset-backed lending and borrowing platform for crypto wealth that now supports over 30 cryptocurrencies.
The firm promises to offer the greatest interest rates for lending bitcoin, with weekly payouts of up to 12.68 percent annual percentage return. There will be no fees for deposits or withdrawals, and no daily withdrawal limit for users.
The company’s assets under management grew by 124.4 percent from 1Q21 to 2Q21. Its global user base reportedly increased by over 200 times last year, reaching over 160 nations.
Since its start, the firm has raised $27 million in total capital.