Fresh funds for crypto peer-to-peer lending platform

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04.08.2022

Following its soft launching in early 2022, CLST, a one-stop shop for peer-to-peer lending and borrowing, will live with a wide market version of the application later this year. The recently completed multi-million dollar financing round will

The multi-million seed round was led by Spartan Group, with participation from Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, a subsidiary of Digital Currency Group, and TX Ventures – the VC investment arm of TX Group.

The Swiss-based FinTech company CLST (Caeleste AG) is the institutional communications venue to lend or borrow stablecoins and crypto assets, automating multi-dealer price negotiation and price matching for institutional traders. CLST Markets integrates next-generation products such as "Request-for Quote" (RFQ), "Fixed Term", "Call Money", institutional DeFi protocols, blockchain-based electronic promissory notes and wallet connectivity for automated settlements. CLST aims to resolve market uncertainties and scaling issues in uncollateralized and collateralized lending and borrowing of stablecoins and crypto assets.

Target customers are digital asset lenders and borrowers such as hedge funds, trading firms, treasuries, asset managers, and crypto banks seeking automated digital asset collateral management features. Capitalizing on the recent immaturity of the crypto debt market, which led to the financial distress of market leaders, CLST is effectively automating bilateral price negotiation and settlement for the unsecured and collateralized short-term debt market. With a large number of institutions participating in the network after soft launching in early 2022, CLST is going live with a wide market version of the application later this year.

“CLST sits at the nexus of the crypto asset short-term debt market and traditional financial market. In tandem with our world-class investors and partners, we are establishing a market for stablecoins, digital assets, fiat, and beyond –  the ‘new money,’” said Michael Guzik, founder and CEO of CLST. “With the new funding, CLST will bolster its peer-to-peer infrastructure through increased operational and market expansion, ultimately creating an ease of lending that has not yet been made possible between institutional entities, until now.”

The proceeds from the round will enable the startup to accelerate its operational activities and expand into new markets.

(Press release)

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