<p><span class="TextRun SCXW125274059 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW125274059 BCX0">Quasar</span><span class="NormalTextRun SCXW125274059 BCX0"> Finance</span><span class="NormalTextRun SCXW125274059 BCX0"> has raised $5.4 million</span><span class="NormalTextRun SCXW125274059 BCX0"> in a</span><span class="NormalTextRun SCXW125274059 BCX0"> round led by Shima Capital.</span></span><span class="EOP SCXW125274059 BCX0" data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span class="TextRun SCXW101785788 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW101785788 BCX0">The</span> <span class="NormalTextRun SpellingErrorV2Themed SCXW101785788 BCX0">DeFi</span><span class="NormalTextRun SCXW101785788 BCX0"> </span><span class="NormalTextRun SCXW101785788 BCX0">startup’s</span><span class="NormalTextRun SCXW101785788 BCX0"> bridge round brings </span><span class="NormalTextRun SCXW101785788 BCX0">its</span><span class="NormalTextRun SCXW101785788 BCX0"> valuation to $70 million and sees five new investors join</span><span class="NormalTextRun SCXW101785788 BCX0"> its cap table, including Anagram, </span><span class="NormalTextRun SpellingErrorV2Themed SCXW101785788 BCX0">Keplr</span><span class="NormalTextRun SCXW101785788 BCX0"> and </span><span class="NormalTextRun SpellingErrorV2Themed SCXW101785788 BCX0">Everstake</span><span class="NormalTextRun SCXW101785788 BCX0">, according to a company press release.</span></span><span class="EOP SCXW101785788 BCX0" data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span><span class="TextRun SCXW255715952 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="auto"><span class="NormalTextRun SCXW255715952 BCX0">Existing investors such as </span><span class="NormalTextRun SpellingErrorV2Themed SCXW255715952 BCX0">Polychain</span><span class="NormalTextRun SCXW255715952 BCX0"> Capital, Blockchain Capital and </span></span><span class="TextRun SCXW255715952 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW255715952 BCX0">Osmosis </span><span class="NormalTextRun SCXW255715952 BCX0">co-</span><span class="NormalTextRun SCXW255715952 BCX0">founder Sunny Aggarwal </span><span class="NormalTextRun SCXW255715952 BCX0">also participated.</span></span><span class="EOP SCXW255715952 BCX0" data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span class="TextRun SCXW40250981 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW40250981 BCX0">The money will be put toward developing Quasar’s interchain decentralized asset management (DAM)</span><span class="NormalTextRun SCXW40250981 BCX0"> protocol</span><span class="NormalTextRun SCXW40250981 BCX0">, which aims to make digital asset management more ac</span><span class="NormalTextRun SCXW40250981 BCX0">cessible. </span></span><span class="TextRun SCXW251003980 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW251003980 BCX0">The startup’s total funding now amounts to $11.5 million</span><span class="NormalTextRun SCXW251003980 BCX0">, having</span> </span><a class="Hyperlink SCXW251003980 BCX0" href="https://medium.com/@quasar.fi/quasar-finance-raises-6-069-420-to-help-bring-mass-adoption-to-defi-on-cosmos-6bf4d11f4784" target="_blank" rel="noreferrer noopener"><span class="TextRun Underlined SCXW251003980 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW251003980 BCX0" data-ccp-charstyle="Hyperlink">announced</span></span></a><span class="TextRun SCXW251003980 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW251003980 BCX0"> a $6 million seed round in July.</span></span><span class="EOP SCXW251003980 BCX0" data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span class="TextRun SCXW41154099 BCX0" lang="EN-US" xml:lang="EN-US" data-contrast="none"><span class="NormalTextRun SCXW41154099 BCX0">“Securing this funding given ongoing and difficult market conditions is a massive show of confidence and a significant reaffirmation of our partners' commitment to the common goal — making non-custodial and permissionless asset management available to all,” Valentin </span><span class="NormalTextRun SpellingErrorV2Themed SCXW41154099 BCX0">Pletnev</span><span class="NormalTextRun SCXW41154099 BCX0">, CEO and co-founder of Quasar Finance, said in the release.</span></span><span class="EOP SCXW41154099 BCX0" data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <h2>Trading across blockchains</h2> <p><span data-contrast="none">Quasar Finance aims to enable users to create vaults and enable strategies that can deploy assets across multiple blockchains. </span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">The Cosmos ecosystem, which Quasar builds within, uses an inter-blockchain communication (IBC) protocol that enables independent blockchains to communicate with one and other as well as trade assets. The release of IBC helps make Quasar’s services possible.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">One of the startup’s first offerings will be a rebalancing index of the Cosmos ecosystem, which is capable of staking included assets, according to the release.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto"> "Quasar is an irreplaceable cornerstone of Cosmos and is a critical unlock for DeFi across IBC protocols,” said Alex Lin, head of research and investor at Shima Capital. “Quasar not only solves the ecosystem's fragmented capital shortcomings but also provides cutting-edge, secure vault mechanisms for a diverse user base.”</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>