Qredo Announces an $80mm Series A Raise Led by 10T Holdings, with Strategic Investment from Coinbase, Avalanche and Terra
Summary
Qredo, the decentralized Layer 2 infrastructure for the custody and settlement of digital assets, today announced the close of one of the largest Series A rounds completed to date in crypto and blockchain-related markets. Qredo’s $80 million USD Series A raise was led by 10T Holdings, the crypto investment firm managed by investors Dan Tapiero, Stan Miroshnik and Michael Dubilier. Its decentralized multi-party computation (MPC) removes the vendor risk and the single points of failure associated with centralized custody solutions and traditional private key management. In October 2021, Qredos groundbreaking integration with MetaMask Institutional began enabling users to securely participate in new DeFi innovations such as accessing ‘cross-chain’ liquidity pools and trading collateralized derivatives across multiple chains. Qredo’s network is designed to enable institutional investors to secure, settle, and access digital liquidity pools and participate in new innovations across DeFi.
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