Unlike traditional finance, it is not as easy as having money sit in a savings account to win interest on your cryptocurrency shares. To see the returns in the cryptocurrency space, holders have to go through many complicated steps to participate in the program, where they can lend cryptocurrencies to profitable borrowers.
That’s why New York-based cryptocurrency startup Blueprint Finance is trying to make it easier for crypto investors to hold on to their jobs. The company announced on Monday grow up A $9.5 million funding round led by Polychain Capital, participated by Yzi Labs, previously Binance Labsand Vaneck.
Blueprint FinanceFounded in 2023 by CEO Nic Roberts-Huntley, it has released two products called Concrete and Glow, designed to allow crypto investors to make money by using decentralized finance or Defi. Defi refers to any financial service performed on the blockchain, such as loans or borrowing, without the involvement of a central bank.
One popular form of Defi is lending and borrowing, where investors can earn their cryptocurrency holdings by lending cryptocurrency to borrowers who need short-term capital. The borrower guarantees the return on the loan. To ensure that the lender will recover the money, the borrower collateralizes the loan with his own cryptocurrency. If the value of its collateral is below a certain threshold, the borrower will automatically liquidate, meaning they are forced to repay the loan and sell their collateral.
Blueprint Finance and other Defi companies are trying to eliminate complexity and maximize the benefits of these programs. “The biggest premise here is how do we give any institutional retail organization the easiest access and the best utility of digital assets?” Roberts-Huntley told The U.S. wealth.
Concrete, the first product released by Blueprint Finance in early 2024, is specifically designed to lend and borrow any loans and borrowing that use the blockchain Ethereum Virtual machines such as Ethereum, foundations and polygons.
Earlier this year, BluePrint Finance launched its second product called Glow, a rebranded and updated version of Solana blockchain based on JET Protocol, called JET Protect get In 2024. Glow focuses on allowing investors Solana An ecosystem of borrowing, borrowing and trading within a platform.
When investors receive returns on loans and the expenses of managing loans and borrowing processes, both concrete and luminescence generate income by charging performance fees.
The crypto loan market has surged in recent years $36 billion industrymany companies are trying to capitalize on the growing Defi service agency interests. In 2023, the leading crypto exchange in the United States Common cases,,,,, emission A loan program designed for its institutional clients. There are other popular loan programs available for average retail investors such as Morpho and Aave.
Roberts-Huntley said Blueprint Finance will spend the money on this round to hire new employees, engineering and marketing.
Roberts-Huntley declined to disclose the company’s annual revenue and its valuation. Blueprint Finance previously raised $7.5 million in 2024, and the company has totaled $17 million to date.
