Cake DeFi is a Singapore-based fintech platform that makes DeFi (decentralized financial) services and apps available to everyone. The company has announced the creation of its corporate venture arm. They plan on investing $100 in its creation.
Cake DeFi Ventures (CDV) will invest in Web3, metaverse, NFT, gaming, esports, etc. They will also invest in fintech firms that will provide synergistic value to Cake’s core business. CDV, which is based in Singapore, will search for global investment possibilities in companies all around the world.
Introducing people to blockchain technology
Cake DeFi co-founders Dr. Julian Hosp, CEO, and U-Zyn Chua, CTO, lead CDV.
Dr. Hosp is a seasoned blockchain entrepreneur. He is considered to be a top influencer in the crypto and blockchain field. He has over one million followers across all of his platforms. By 2025, Dr. Hosp wants a billion people to be aware of and comprehend blockchain technology.
U-Zyn has been designing and developing decentralized systems for over a decade. He is a blockchain engineer, enthusiast, and investor.Cake DeFi is the world’s top investment platform for DeFi and other up-and-coming alternative assets. The company is based in . Cake DeFi will provide substantial assistance to CDV portfolio firms. They will have access to Cake products, connections, users, resources, and knowledge in the global blockchain market.
“By establishing Cake DeFi Ventures, we hope to introduce bitcoin and blockchain technology to the masses. Cake DeFi’s present standing as Singapore’s and Southeast Asia’s fastest-growing platform. The initiatives we invest in can expect to get substantial support as they scale worldwide,” said Julian Hosp, co-founder, and CEO of Cake DeFi.
“It is a good idea to invest in companies that bring synergies to Cake DeFi’s core business. It will allow us to enhance our Web3 offerings,” said U-Zyn Chua, Co-founder and Chief Technology Officer of Cake DeFi.
Singapore’s new high
According to research, investment in the cryptocurrency and blockchain sectors in Singapore increased by more than tenfold last year. It’s solidifying the city-image state’s as a crypto powerhouse even as it remained skeptical of speculative digital assets.
According to KPMG’s Pulse of Fintech study released Tuesday, there were 82 agreements for a total of $1.48 billion last year. This is an increase from $110 million in 2020.
The most of bitcoin and blockchain investments last year were focused on software and underlying infrastructure rather than services. According to KPMG, the embryonic industry accounted for a third of overall fintech investment in Singapore. This totaled $3.94 billion last year.
Even as regulators apply tighter monitoring, KPMG expects crypto investment in Singapore to continue strong this year. Last month, the central bank issued a directive to cryptocurrency businesses.
The business is prohibiting them from advertising their services to the general public. However, the project started to send shivers through the market.
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