Credix, a decentralised credit marketplace, has secured $11.25m in a Series A funding round headed by Motive Partners and ParaFi Capital.
Also taking part were Valor Capital, Victory Park Capital, Circle Ventures, Abra, Fuse Capital and MGG Bayhawk Fund.
The Credix platform connects together institutional investors such as banks and hedge funds with credit FinTechs and non-bank lenders in emerging markets who are looking to raise capital.
The company manages the underwriting, and institutional investors are able to gain access to higher lending rates with less risk. Currently, Credix is only available in Brazil, but plans to expand to new markets soon.
The firm said the new funding will be used toward platform development, hiring and integration with other Web3 projects.
Credix CEO and founder Thomas Bohner said, “Within the next decade, debt capital markets will be on-chain and democratized. Credix is building the infrastructure to enable this at scale – we’re developing a next-generation credit platform matching institutional investors and FinTech lenders.”
The FBI has warned of an increase in attacks targeting decentralised finance (DeFi) platforms to steal cryptocurrency, according to Security Week.
The agency claims that offenders are taking advantage of the increased interest in cryptocurrency and the complex functionality as well as the open-source nature of DeFi platforms to perform nefarious activities.
The FBI also remarked that cybercriminals are exploiting security flaws in the smart contracts governing DeFi platforms to steal virtual currency and cause investors to lose money.
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