Laser Digital, the crypto subsidiary of Japanese financial services giant Nomura, invested in Infinity Exchange, a decentralized finance (DeFi) protocol for institutional lending and borrowing.
Laser's investment is additional to the $4.2 million seed round Infinity raised last September from several backers, including GSR and Flow Traders, Infinity founder and CEO Kevin Lepsoe told The Block. He declined to comment on valuation and whether the fundings were secured via equity or token rounds.
Lepsoe, a former head of structuring and financial engineering at Morgan Stanley in Hong Kong, founded Infinity last year, aiming to increase institutional adoption of DeFi. Infinity is built on Ethereum and providers users access to both floating and fixed interest rates, as well as the trading of interest rates, Lepsoe said.
Explaining how Infinity differs from existing DeFi protocols, Lepsoe said its interest rate mechanism and risk management system are key competitive advantages.
(By Yogita Khatri)
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