Vauld, a cryptocurrency lender, has raised $2 million from an assortment of investors including Coinbase Venture, Pantera Capital, and Compound founder Robert Leshner.
The Singapore-based company said in a statement that it plans to use the funds to grow from a lending platform to one that includes payments and trading. It said the money will also go toward plans to develop the firm's presence in Europe and the United States.
“We see institutional capital come into the crypto space with the expectation of banking integrations to complement crypto credit offerings,” said Darshan Bathija, CEO of Vauld, in the statement.
Paul Veradittakit, partner at Pantera Capital, added: “Vauld’s vision to make cryptocurrencies the preferred instrument of banking by making it simple to use and interoperable with the current banking infrastructure is what we are excited about."