- Qredo, a London, UK-based decentralized digital asset management infrastructure and product suite, closed an $11m seed funding round
- The company intends to use the funds to double its R&D team, bring in talent at the C-suite level, and advance its anticipated version 2 launch
- Qredo uses a novel blockchain protocol that enables users to access cryptocurrencies on Layer 1 blockchains, such as Bitcoin, and Ethereum over a Layer 2 network
- This innovation allows users to securely participate in new DeFi innovations such as accessing ‘cross-chain’ liquidity pools, trading collateralized derivatives, and executing cross-chain atomic swaps
- Since inception in 2018, the company has worked with a variety of established leaders in the crypto industry to develop innovative solutions
- In addition to the well financial investors, Qredo has received funding from Celsius, Deribit, Wintermute, GSR, CMS Holdings, Kronos Research and 3commas
