SCB 10X, the venture capital unit of Thailand’s Siam Commercial Bank, has launched a new $50 million fund to invest in blockchain and decentralized finance (DeFi) startups.
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SCB 10X, the venture capital unit of Thailand’s oldest Siam Commercial Bank, has launched a new $50 million fund to invest in blockchain and decentralized finance (DeFi) startups.
SCB 10X is already an investor in crypto startups such as Ripple, BlockFi, and Alpha Finance. With the new fund, the firm looks to invest in early and growth-stage blockchain, DeFi, and digital asset startups.
“Blockchain-enabled financial services have the potential to broaden financial inclusion, facilitate open access, and encourage innovation,” said Mukaya Panich, chief venture and investment officer at SCB 10X. “We will invest across the capital stack in innovative and promising startups in blockchain infrastructure, blockchain innovative applications, and decentralized finance globally, to better prepare the bank for future disruption.”
DeFi appears to be finding a dedicated place in venture funds. Yesterday, Spartan Group unveiled a new $50 million DeFi venture fund. Earlier today, China’s Nervos Network launched a $5 million grant fund to support DeFi projects.
An Overview of Synthetic Assets on Mirror Protocol
Mirror Protocol is a synthetic asset issuance platform built on the Terra blockchain (Cosmos SDK) that launched on December 3rd, 2020
Since its launch, Mirror Protocol has facilitated a peak of $44.4 million in daily trade volume and has $188.9 million in locked liquidity
Mirror Protocol’s design resembles that of stablecoin issuance protocol MakerDAO, which has led to an issue where synthetic assets trade at a premium to their real market price
Synthetic asset protocol design DeFi protocols for issuing and trading synthetic assets can be built in various ways — each with its own set of tradeoffs and strengths — but the big questions that have to be answered are: By what mechanism does the price of the synthetic asset track the price of the underlying […]