<div>
  <ul>
    <li>
      <p>
        MakerDAO, a DeFi-lending and stablecoin protocol, announced the launch of a new lending platform named Spark Protocol, to enable users to borrow, lend, and stake DAI, the protocol&rsquo;s stablecoin.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The platform, which is a fork of Aave's version 3 (v3), will be built by Phoenix Labs, a research and development company formed by the DAO. The new solution will also align the protocol&rsquo;s revenue model with the issuance of DAI. Additionally, the company also announced the deployment of etherDAI, a liquid staking derivative for Ethereum that will be pegged to the value of ETH.&nbsp;
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         This news comes just a week after 
        <a href="https://sp-edge.com/companies/518457">
          Aave
        </a>
        , a DeFi lending protocol, 
        <a href="https://sp-edge.com/updates/15995">
          launched V3 on the Ethereum network
        </a>
        . The upgrade aims to reduce user risk and improve capital efficiency when staking or borrowing correlated assets, such as stablecoins and liquid-staking derivatives. The launch of this new lending protocol puts MakerDAO in direct competition with Aave which is currently neck and neck with the former in terms of total value locked (USD 7 billion)
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.coindesk.com/business/2023/02/09/defi-giant-makerdao-to-introduce-aave-rival-dubbed-spark-protocol/?utm_medium=referral&utm_source=rss&utm_campaign=headlines">
      Coindesk
    </a>
  </p>
</div>


Decentralized Finance (DeFi)

MakerDAO launches new front-end lending protocol; launches liquid staking derivative

<div>
 <p>Volta, which developed a smart wallet platform, has managed to secure USD 4.1 million in a seed funding round. Prominent investors like Fika Ventures and Haven Ventures took the lead, with contributions also coming from Dispersion Capital, Soma Capital, and Uphonest Capital.</p>
 <p>The firm plans to put the newly acquired funds to good use by optimizing its smart wallet platform, named Volta Circuit. The intention is to speed up the growth and expansion of the platform.</p>
 <p>The Volta Circuit is unique. It operates as a multi-signature, non-custodial platform. This system allows for the proper handling of cryptocurrency and tokenized assets that are based on real-world entities. &nbsp;</p>
</div>

Volta raises USD 4.1 million in seed funding to expedite growth of smart wallet platform

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>

 <p>Chainlink, a provider of blockchain middleware infrastructure, is joining forces with electronic trading technology provider, Rapid Addition, to create a FIX-native adapter for institutional digital asset trading. This tool, which will be based on Chainlink's Cross-Chain Interoperability Protocol (CCIP), is designed to allow banks and financial institutions to utilize their existing trading structures for dealings with tokenized assets. The adapter is expected to have multiple applications, including but not limited to, renewable energy products, real estate, infrastructure, and collectibles.</p>

</div>

Chainlink partners with Rapid Addition to develop adapter for digital trading of tokenized assets

ANALYST_QUICK_TAKE

<div>
 
 <p>Asset tokenization platform, Securitize, has obtained USD 47 million in a funding round conducted by BlackRock and involvement from Hamilton Lane, ParaFi Capital, and Tradeweb Markets. This increases Securitize's total funding to slightly above USD 147 million.</p>
 <p>The firm aims to use these capital to speed up product development, enlarge its worldwide operations, and strengthen its collaborations across the financial services sector.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> Real-world asset tokenization has seen growing interest within the DeFi industry in the last six months, with a number of recent fundraises, including <a href="https:<br>
//sp-edge.com/companies/2311454"> Untangled Finance </a> , <a href="https:<br>
//sp-edge.com/companies/2873315"> Ostium Labs </a> , and <a href="https:<br>
//sp-edge.com/companies/826434"> GenTwo </a> , which raised <a href="https:<br>
//sp-edge.com/updates/22651"> USD 13.5 million </a> , <a href="https:<br>
//sp-edge.com/updates/22537"> USD 3.5 million </a> , and <a href="https:<br>
//sp-edge.com/updates/21536"> USD 15 million </a> , respectively. Notably, this funding from Blackrock coincides with the launch of BlackRock’s first tokenized fund on Ethereum, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which it made available to investors via a partnership with Securitize.</p>

Securitize raises USD 47 million in fresh funding

<div>
 
 <p>Backed, a company based in Switzerland that offers a real-world asset tokenization platform, has raised USD 9.5 million in a recent funding round. Investment groups such as Gnosis, Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, and the Blockchain Founders Fund have contributed in this round.</p>
 <p>The firm plans to leverage this recently acquired capital to accelerate its private tokenization services.</p>
 <p>Backed provides a platform built on blockchain technology, which allows users to tokenize a variety of tangible assets. These include, for example, exchange-traded funds (ETFs) and company stocks. By using a supported Web3 wallet, customers can take advantage of the platform’s tokenization engine to create and distribute tokens that represent real-world assets. These tokens are then kept as collateral. Importantly, such tokens are made following the ERC-20 token standard.</p>
 
</div>

Backed raises USD 9.5 million in new funding

<div>
 
<p>Asset tokenization platform, Tokeny, has partnered with private markets workflow digitization platform, Globacap, to expand its "DINO Network." This network uses the ERC-3643 token standard for the distribution of digital securities. Through this partnership, Tokeny will utilize Globacap's workflow automation software to enhance execution capabilities in secondary markets, optimize workflows, and ensure record integrity. Tokeny will also act as a link between Globacap and the network.&nbsp;</p>
<p>Tokeny provides a blockchain-based platform for users to tokenize real-world assets such as debt, real estate, private equity, and funds. The platform allows users to create and distribute tokenized assets, automate KYC/AML processes, and enable peer-to-peer trading in secondary markets. Tokeny is also credited with the creation of ERC-3643, a standard for tokenized securities restricting token interactions to approved users whilst maintaining interoperability with applications supporting other Ethereum-based tokens.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> Real-world asset tokenization has seen a growing interest within the DeFi industry in the last six months with a number of recent fundraises, including <a href="https:<br>
//sp-edge.com/companies/2311454"> Untangled Finance </a> , <a href="https:<br>
//sp-edge.com/companies/2873315"> Ostium Labs </a> , and <a href="https:<br>
//sp-edge.com/companies/826434"> GenTwo </a> , which raised <a href="https:<br>
//sp-edge.com/updates/22651"> USD 13.5 million </a> , <a href="https:<br>
//sp-edge.com/updates/22537"> USD 3.5 million </a> , and <a href="https:<br>
//sp-edge.com/updates/21536"> USD 15 million </a> , respectively. Notably, Tokeny aims to differentiate itself via the DINO Network, a liquidity and distribution network for new tokens launched via its platform. The network includes digital trading desks, regulated trading venues, decentralized exchanges, and other DeFi protocols</p>

Tokeny partners with Globacap to expand DINO network

<div>

 <p>Blockchain infrastructure and security firm, Fireblocks, has unveiled two new products - "dApp Protection" and "Transaction Simulation". These are designed to aid institutional DeFi users in mitigating security risks.</p>
 <p>The new offerings help in identifying malicious smart contracts, phishing websites, and compromised decentralized apps (dApps) through the examination of suspicious activities such as fraudulent URLs, toxic Javascript elements, and unreliable registrars. Furthermore, the integrity of dApps can be verified across over 40 blockchains using WalletConnect, Fireblocks' browser extension, and MetaMask Institutional.</p>

</div>

Fireblocks launches new security tools for institutional DeFi users

<div>
 
 <p>Turnkey, a provider of crypto wallet infrastructure, has successfully raised USD 15 million in a Series A funding round. The round was led by Lightspeed Faction and Galaxy Ventures, and saw participation from Sequoia, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures.</p>
 <p>The company offers a blockchain infrastructure which allows users to create more user-friendly cryptocurrency wallets. These wallets can be created and embedded into their applications or websites using the company’s application programming interfaces (APIs). The platform also enables transactions like invoices and payments to be automated. Additional features of the platform include a 50–100 ms signing latency, a range of security measures like passwordless authentication, and a customizable policy engine.&nbsp;</p>
 
</div>

Turnkey raises USD 15 million in Series A funding

<div>

<p>Aptos Labs, a provider of layer-1 blockchain infrastructure, has joined forces with Microsoft, SK Telecom, and Brevan Howard (a fund management firm) to introduce a new decentralized finance (DeFi) platform, named Aptos Ascend. The platform is specifically designed for institutional usage and includes a range of features such as customizable tokens, regulated transaction access, zero-knowledge transaction privacy, and network controls that can be upgraded.</p>

<p>With this collaboration, Aptos aims to use Microsoft's Azure cloud infrastructure and its OpenAI solutions to expand its product portfolio. Furthermore, SK Telecom will enable users to access its wallet-as-a-service technology, ensuring regulatory compliance, while Brevan Howard will supply asset management services.</p>

</div>

Aptos Labs partners with Microsoft, Brevan Howard, and SK Telecom to launch institutional DeFi platform

<div>

<p>Centrifuge, a protocol for tokenizing real-world assets, has raised $15 million in a Series A investment round. The funding was jointly led by Greenfield and ParaFi Capital, including contributions from Borderless Capital, ProtoCap, Edessa Capital, and Wintermute Ventures. The round of investment grew the company's total funding to approximately $31 million. </p>

<p>The company declared its plans for the newly raised capital, aiming to use it for product development, creating new integrations, expanding its ecosystem, and hiring more employees. Further, it also announced its intentions to develop a lending protocol for real-world assets for institutions on Base, a network based on the Ethereum layer-2 technology, created by Coinbase.</p> 

</div>

Centrifuge raises USD 15 million in Series A funding

<div>

<p>AtomiqDeFi, a platform offering DeFi services, has raised a seed funding round of USD 3 million. The round was led by X21 Digital and saw participation from organizations such as NXGen, Dutch Crypto Investors (DCI Capital), Spicy Capital, Altcoin Buzz, and AlphaBit fund. This brings the total funding received by AtomiqDeFi up to USD 4.5 million.</p>

<p>AtomiqDeFi is planning to utilize this funding for the purpose of furthering its product development efforts and venturing into partnerships with other layer-1 launchpads.</p>

<p>The suite of DeFi products and services that are offered by AtomiqDeFi are built on MintLayer, which is a Layer-2 protocol for Bitcoin. The offering comprises of a decentralized exchange that uses Atomic swaps to enable users in trading Mintlayer-based tokens and BTC directly from their personal wallets, a token launchpad that supports users in launching new tokens within the given ecosystem, a DeFi wallet that provides support for various cryptocurrencies and blockchains, and a cross-chain bridge, that provides users the ability to swap tokens among Ethereum virtual machine (EVM) compatible blockchains.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This news adds to a growing trend of Bitcoin layer-2 projects exploring the use of smart contracts to expand the functionality of Bitcoin. The space has also seen recent interest from investors over the last few months, with startups such as <a href="https:<br>
//sp-edge.com/companies/3510832"> OrangeDX </a> , <a href="https:<br>
//sp-edge.com/companies/606656"> Portal </a> , and <a href="https:<br>
//sp-edge.com/updates/25486"> Bitfinity </a> , raising <a href="https:<br>
//sp-edge.com/updates/27699"> USD 1.5 million </a> , <a href="https:<br>
//sp-edge.com/updates/26200"> USD 34 million </a> , and <a href="https:<br>
//sp-edge.com/companies/3408375"> USD 7 million </a> , respectively, and <a href="https:<br>
//sp-edge.com/companies/1930376"> BabylonChain </a> and <a href="https:<br>
//sp-edge.com/companies/3480652"> BounceBit </a> securing an undisclosed investment from Binance. Notably, these developments also coincide with the approval of a number of spot Bitcoin ETFs in January and the subsequent rise in the spot price of Bitcoin <a href="https:<br>
//finance.yahoo.com/news/bitcoin-breaks-time-high-69-153016833.html"> above its previous all-time high </a> early last month.</p>

All Updates