RAI Finance, a blockchain-based cross-chain swap protocol, announced on the 30th that it has succeeded in attracting a strategic investment from global crypto fund NGC Ventures.
RAI Finance is a protocol that provides cross-chain swap functionality based on the Polkadot blockchain. RAI Finance utilizes Parachains on Polkadot to increase liquidity and provide access to assets across major blockchains.
The investment was led by NGC Ventures, a world-renowned crypto fund. NGC Ventures is a Singapore-based blockchain investment company that has invested in major blockchain projects such as Algorand, Polkadot, Terra, and Avalanche. RAI Finance has been able to raise about 1.7 billion won from GBIC and Alphabit through previous investment rounds.
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“We are very happy to succeed in attracting a series of strategic investments following the last round,” said Keonho Lee, CEO of RAI Finance. “We are currently running the RAI swap test version and will soon be ready for the launch.”
Roger Lim, founding partner of NGC ventures also added, “Rai is making DeFi with interchain operability possible, we believe this is one of the most critical things happening in 2021. RAI team are passionate and experienced, we are looking forward to being part of their journey.”
RAI Finance is a protocol designed to provide DeFi with a wider range of assets, a higher amount of liquidity, and a diverse set of financial use cases. When this feature set is combined with the cross-chain compatibility of the Polkadot ecosystem, it eliminates fragmentation across the existing DeFi ecosystem by bringing a complement of new assets and a higher amount of liquidity to decentralized finance.
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