Travel Firm Maps.me taken the DeFi plunge with a USD 50m

Travel Firm Maps.me has actually taken the DeFi plunge with a USD 50m fundraising initiative it has actually called “an investment right into the ingrained DeFi environment.”

The company exposed that its backers in the USD 50m drive include the Berkeley as well as Hong Kong-based Alameda Study, which is fronted by Sam Bankman-Fried, the head of prominent crypto by-products exchange FTX, along with experienced DeFi investor CMS Holdings and the New York-based crypto financier Genesis Capital.

The company claimed that the move was an “financial investment into the embedded DeFi ecological community,” including that it would currently “install a cross-border, multi-currency wallet that will certainly merge DeFi devices with daily traveling and location services” to its individuals.

The firm prepares that its new purse would enable its users to “make yields of up to 8%, exchange funds without hidden charges, send cash and also invest in numerous currencies for cross-border travel, along with obtain cashback on transactions via the app.”

The firm asserts that it has “greater than 140 million users worldwide,” and also claimed that it would certainly provide “the ‘killer application'” that the DeFi sector “needs to end up being mainstream.”

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