- Bluejay Finance introduced that it raised $2.9 million in funding.
- The stablecoin protocol bagged funding from VCs reminiscent of Stake Capital Group and Zee Prime Capital.
- Recently, Bluejay partnered with DeFi protocol Silta Finance.
Stablecoin protocol Bluejay Finance introduced at this time that it raised $2.9 million in funding from a number of enterprise capital companies.
In a launch shared with koinaly, Bluejay secured the bag from notable VCs, together with Stake Capital Group, Zee Prime Capital, C2 Ventures, RNR Capital, Daedalus Angels, Moonlanding Ventures, and Oval Ventures, amongst others. DeFi initiatives Ribbon Finance, Flux, Voltz, and Alpha Venture DAO had been additionally concerned as angel buyers.
Bluejay revealed that it’ll use the funds to construct up its workforce and stablecoin deployment earlier than distributing them to companions, reminiscent of DeFi protocols, centralized and decentralized exchanges, and fintech companies. This will present buyers with a medium of alternate that curbs international alternate dangers and alternate charges.
Notably, the multi-currency stablecoin protocol pegs its stablecoins on Asian currencies, just like the Singapore greenback and the Philippine peso.
Sherry Jiang, the founding father of Bluejay Finance, acknowledged that stablecoins play a job in the way forward for monetary providers in Asia. Jiang added that Bluejay is steadfast in bettering monetary inclusion by Asia-focused stablecoins.
Bluejay stays centered on constructing merchandise and partnerships that may allow these sustainable use circumstances of stablecoins and produce in the following billion customers into DeFi.
“For crypto to branch into use cases like real world payments and money markets, it needs to have stablecoins that people in local economies can seamlessly transact with,” stated Stake Capital Group founder Julien Bouteloup. “Bluejay is positioned to address this need, which will only continue to grow as DeFi matures.”
Bluejay Finance appears to ramp up its partnerships inside the 12 months, lately asserting a collaboration with DeFi protocol Silta Finance.
