DeFi: this start-up raises millions to issue tokenized debt securities

DeFi: this start-up raises millions to issue tokenized debt securities

On-chain bonds – The start-up Required Switzerland-based company, formerly known as FQX, raises an additional $4 million to enhance its debt issuance platform in the decentralized finance.

Obligate platform: an additional $4 million before its launch on Polygon

Recently, Obligate has survey $4 million as part of the extension of its seed table round. By combining this amount with that of its initial fundraising in 2021, the startup accumulates $8.5 million raised in total, as seed funding.

During this last round, Blockchange Ventures and Circle Ventures have joined the list of initial investors in Obligate. These include early bird and SIX Fintech Ventures.

Obligate enables companies toissue of the obligations and commercial paper on the blockchain, in order to obtain funds from investors. These 4 million dollars freshly raised will allow the startup to improve its debt securities platform. Its launch is scheduled for Polygon (MATIC) for next month.

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On-chain debt securities issued in a regulated decentralized finance environment

On its LinkedIn page, Obligate claims that its platform allows reduce friction in terms of time and cost, for issuing these on-chain instruments. Although this operation is carried out on a blockchain, the company indicates that these titles benefit from the same regulatory certainty than their traditional counterparts.

These assets would be regulated and enforceable globally. Investors would have the opportunity to secure their investments, with on-chain guarantees. In terms of security and compliance, issuers must also complete a KYC procedure in a few clicks.

As for the formalization of credit agreements, when investing in a security, investors receive a eNote in the form of a ERC-20 token. This token represents their right to receive a payment, or the on-chain guarantee of the loan in default, at the maturity of the claim.

The Obligate platform thus enables companies toget credit to finance their operations, and investors to generate returns by betting on bonds and commercial paper, in an environment of regulated decentralized finance.

Obligate thus has an additional $4 million to improve its platform, before its launch on Polygon. The startup and its investors have bet on the tokenization of securities, an area that will revolutionize finance according to BlackRock.

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