Margarita Finance has raised $1 million in pre-seed funding to focus on the structured finance market, in response to an announcement by the agency. The Zurich-based Fintech acquired the backing of Tomahawk VC, Outrun Ventures, a number of household places of work, together with Swiss-based N & V Capital, and market maker G-20 Group.
Margarita desires to carry the estimated $7 trillion structured merchandise market on-chain utilizing Solana. The corporate says the present ecosystem suffers from outdated infrastructure emblematic of TradFi.
The blockchain-based resolution will leverage sensible contracts and oracles to permit Margarita Finance to offer customers the choice to tailor funding merchandise at decrease prices, unmatched speeds. Its first product referred to as “Yield Boosters”, is claimed to permit buyers to earn double-digit yields on their BTC, ETH, and SOL with versatile lock-up intervals from sooner or later to a few months.
“Our objective is to onboard the opposite 99% of worldwide potential buyers into onchain structured merchandise,” mentioned Benedikt Schuppli, co-founder of Margarita Finance. “DeFi, whereas progressive, stays too technically complicated for many customers. Of the one billion international potential buyers, solely 10 million at present use DeFi. Margarita Finance overcomes this hurdle by combining TradFi’s authorized enforceability with the innovation of blockchain to unlock alternatives for everybody.”
Margarita Finance has additionally acquired a grant from the Solana Basis.
