As per reports, M^Zero labs, a Berlin-based organization dealing with global financial system, raised $22.5 million in a funding round conducted by Pantera Capital, stated Cointelegraph. Sources revealed that other investors such as Road Capital, AirTree, Standard Crypto, The SALT Fund, ParaFi Capital, Distributed Capital, Kraynos Capital, Mouro Capital and Earlybird were also present in the funding round.
As reported by Cointelegraph, the funds raised will be used to create a decentralized platform that will allow institutional members to issue transfer value and on-chain assets in a “completely transparent, open-source, and composable manner, while minimizing their exposure to counterparty risk.”
“Shared on-chain governance and settlement will seamlessly interact with best-practice asset onboarding in a regulatory-friendly setup” Luca Prosperi, CEO, M^ZERO Labs, added, Cointelegraph highlighted.
“It will be an open-source, credibly neutral protocol where providers of liquidity and collateral can freely meet in a decentralized market on blockchain rails,” Paul Veradittakit, a partner of Pantera Capital, stated, Contelegraph concluded.
(With insights from Cointelegraph)