Creditcoin has announced a new investment from Digital Wave Finance (DWF) Labs, a well-known international Web3 investment company, to help advance Creditcoin’s adoption by numerous financial institutions and protocols that are looking to create the future of credit on-chain using DWF’s current ecosystem of partners.
This investment, according to the “decentralized credit bureau,” is a cornerstone of DWF’s long-term strategy aimed at Web3 applications with broad real-world acceptance. It went on, saying,
“For instance, the Creditcoin protocol [has] recorded over 3 million transactions since launch, collectively worth over $70 million USD.”
Read the full announcement + 🧵👇https://t.co/EQrPgJxG6O
— Creditcoin 🐧 (@Creditcoin) February 14, 2023
The new investor boasts of having offices in several locations across the world, including Singapore, Switzerland, the United Arab Emirates, and South Korea, among others. It also describes itself as a multi-stage web-based investment firm and a global market maker for digital assets.
Creditcoin Continues Shaping the Future of Credit
According to information found on its website, DWF Labs aims to fund and assist “bold founders” who wish to create the future of Web3. They provide connections with their partners, advice, liquidity provision, cybersecurity, smart contract audit procedures, debt financing, and treasury management.
Meanwhile, the investment company is a subsidiary of the parent company, Digital Wave Finance (DWF), which is among the biggest high-frequency cryptocurrency trading companies in the world and trades spot and derivatives markets on more than 40 reputable exchanges.
Speaking about the agreement, Andrei Grachev, Managing Partner at DWF Labs, expresses his delight in investing in Creditcoin and supporting their vision of creating an interoperable public credit bureau on a public blockchain.
Ae claims to be excited to be part of the revolutionary journey, as he believes that the project will play a “critical role” in shaping the future of credit and finance.
“Creditcoin is at the forefront of innovation in the credit industry, and their team has the expertise and passion to bring this vision to life,” Andrei Grachev stressed. “Our investment will help accelerate Creditcoin’s global adoption.”
As a fundamental L1 blockchain created to match and record credit transactions, Creditcoin continues to secure funds, open the door for a new wave of cross-chain credit markets, and build a public ledger of credit history and loan performance.
The platform’s decentralized structure and smart contract capabilities make it easy for people and organizations to borrow money or invest their money without the use of intermediaries.