Fresh funds for crypto peer-to-peer lending platform
Summary
Following its soft launching in early 2022, CLST, a one-stop shop for peer-to-peer lending and borrowing, will live with a wide market version of the application later this year. The recently completed multi-million dollar financing round willThe multi-million seed round was led by Spartan Group, with participation from Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, a subsidiary of Digital Currency Group, and TX Ventures the VC investment arm of TX Group.The Swiss-based FinTech company CLST (Caeleste AG) is the institutional communications venue to lend or borrow stablecoins and crypto assets, automating multi-dealer price negotiation and price matching for institutional traders. CLST Markets integrates next-generation products such as "Request-for Quote" (RFQ), "Fixed Term", "Call Money", institutional DeFi protocols, blockchain-based electronic promissory notes and wallet connectivity for automated settlements. In tandem with our world-class investors and partners, we are establishing a market for stablecoins, digital assets, fiat, and beyond the new money, said Michael Guzik, founder and CEO of CLST. With the new funding, CLST will bolster its peer-to-peer infrastructure through increased operational and market expansion, ultimately creating an ease of lending that has not yet been made possible between institutional entities, until now.The proceeds from the round will enable the startup to accelerate its operational activities and expand into new markets.