Treehouse, a digital asset infrastructure company, announced the closing of a strategic funding round. This was reported to Incrypted by the company.
It is known that the round was led by the venture capital arm of one of the largest insurance and financial services companies in the world with more than $500 billion in assets under management, along with investors from the decentralized- and traditional finance sector.
Also invested in the startup were:
- Jordi Alexander, founder and CEO of Selini;
- Guy Young, founder and CEO of Ethena;
- Darius Sit, founder and CIO of QCP;
- Rich Teo, co-founder and CEO of Paxos;
- Matthew Tan, founder and CEO of Etherscan;
- Michael Ashby, CEO of Algoquant and former head of digital assets at Point72;
- Mirko Schmidl, co-founder and CEO of Staking Rewards;
- Jack Young, founder and CEO of LTP;
- Benedict Chan, former CTO of BitGo and head of engineering at Chainlink.
In addition, representatives from Lido, EtherFi and other protocols participated in the funding round.
Note that earlier the startup has already raised $18 million in a pre-seed funding round. Then the investors were Binance, Lightspeed, Mirana Ventures, Global Founders Capital, Jump Capital, GSR, Wintermute, Leadblock Partners, as well as senior executives of SoftBank Vision Fund and others.
The press release said Treehouse is developing a fixed income infrastructure for digital assets, offering investors structured returns based on crypto and tokenized assets.
Treehouse CEO Brandon Guo stated:
“Fixed income is the backbone of the global financial system and we aim to bring the same infrastructure to the digital asset space. The funding raised will allow us to scale our efforts and expand the solutions available.”
Treehouse plans to use the new capital to develop products and infrastructure in fixed income, including the launch of Decentralized Offered Rates (DOR) and tAssets, starting with tETH. The funds will also be used for protocol enhancements, regulatory compliance, global expansion and strengthening partnerships with institutional players.
Treehouse will soon launch DOR on the core network, the press release said. The company also plans to expand tAssets to new underlying assets, L2 solutions and Proof-of-Stake blockchains, as well as increase the profitability of tETH.
We previously reported that Tether invested in Fizen, a fintech company specializing in self-storage crypto wallets and digital payments.