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Solrise Finance Raises $3.4M for Non-Custodial Protocol on Solana
Solrise said the capital will be used to make the DeFi ecosystem more accessible to wider investor audiences.
Solrise Finance, a fund management and investment protocol based on Solana, said it raised $3.4 million in a funding round that included Alameda Research.
STORY CONTINUES BELOW
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- CMS Holdings, Delphi Digital, Jump Capital, Parafi Capital, DeFi Alliance, Reciprocal Ventures and Skyvision Capital also invested.
- Solrise says it allows users to allocate capital across actively managed funds, helping make decentralized finance (DeFi) more accessible to wider investor audiences. It says its platform helps lower transaction costs.
- The platform also allows users to create their own funds with exposure to assets from across Solana.
- “Unlike more traditional investment avenues, Solrise’s non-custodial nature means that fund managers never directly own investor funds, while investors are free to enter and exit funds on their own schedule,” the firm said in a press release.
- The Solana ecosystem is heavily backed by Sam Bankman-Fried, the CEO and founder of crypto derivatives exchange FTX and Alameda Research.
Read more: 21Shares Launching World’s First Solana ETP on SIX Swiss Exchange
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
