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SINGAPORE, Mar 11, 2022 - (ACN Newswire) - Cake DeFi, a Singapore-based fintech platform that makes DeFi (decentralised finance) services and applications accessible for everyone, has launched Cake DeFi Ventures (CDV), its venture capital arm with US$100 million in earmarked capital.

Cake DeFi Ventures (CDV) is looking to invest in technology startups in Web3, gaming and fintech - especially those in the metaverse, NFT, blockchain and esports industries - that will bring synergistic value to Cake DeFi's core business. Based in Singapore, CDV will look for global investment opportunities in startups around the world.

CDV is led by Cake DeFi's Co-founders Dr Julian Hosp (Chief Executive Officer) and U-Zyn Chua (Chief Technology Officer) along with newly appointed Investment Partner Nicholas Khoo:

- Dr Julian Hosp is a seasoned blockchain entrepreneur, widely regarded as a leading influencer in the crypto and blockchain space. His vision is to bring blockchain awareness and understanding to a billion people by 2025.

- U-Zyn Chua, a blockchain engineer, enthusiast and investor for over a decade, was a Smart Nation Fellow on blockchain for the Singapore government. He was also the Lead Architect for the world's first Central Bank Digital Currency (CDBC) - the Sand Dollar in the Bahamas.

- Nicholas Khoo brings over 20 years in the tech sector with diversified experience in startups and multinationals such as Visa. For more than ten years, Nicholas has invested in a number of successful and fast-growing tech startups and has also served on the investment committees of investors such as the Global Fund.

Portfolio companies of CDV will receive strong support from Cake DeFi's global and experienced leadership team, and the opportunity to access Cake DeFi's connections, resources and expertise within the global blockchain industry.

"By launching Cake DeFi Ventures, we want to bring cryptocurrency and blockchain capabilities to the world. Cake DeFi is one of Southeast Asia's fastest-growing fintech platforms. The projects that we invest in can expect to receive strong support scaling globally," said Dr. Julian Hosp, Co-founder and CEO of Cake DeFi.

Deploys First Strategic Investment into US-Based 'The Edge Of Company, Inc.'

At the time of CDV's launch, the firm was in early to late-stage discussions with a number of global startups, including those in Southeast Asia, the U.S. and Europe. For its first strategic investment, Cake DeFi has selected tech, media and events startup, The Edge Of Company, which has been building the community and ecosystem for the NFT and Web3 space.

"The entire team at The Edge Of Company is honored to have Cake DeFi Ventures as part of the Edge family. Their know-how, relationships, and strategic insights will help propel this Web3 rocketship to new heights across our platform of tech, media, and events," said Jeff Kelley, Co-Founder, The Edge Of Company, Inc.

"As an extension of our multiple blockchains support and having built up an R&D arm with cryptography deep tech capability, investing in companies that bring synergies to Cake DeFi's core business will allow us to enhance and broaden our Web3 offerings," said U-Zyn Chua, Co-founder and CTO of Cake DeFi.

To apply for funding from CDV, please email [email protected] with the project details. CDV will be in touch with shortlisted projects. Venture capital firms or investment funds interested in co-investment opportunities or strategic partnerships may also reach out for further discussion.

ABOUT CAKE DEFI

Cake DeFi is a fully transparent, highly innovative and regulated fintech platform dedicated to providing access to decentralised financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is fully compliant with all regulatory requirements of the Monetary Authority of Singapore (MAS).

By enabling and empowering its users to harness the potential of decentralised finance (DeFi), Cake DeFi aims to educate and inform people around the world on crypto and DeFi in a simple, easy to understand and hassle-free manner.

In 2021, Cake DeFi saw a tenfold growth in its registered customer base, with over US$1bn customer assets. In the same year, Cake DeFi's customers received over US$230 million in rewards.

ABOUT THE EDGE OF COMPANY, INC.

A media, events, and tech venture, The Edge of Company launched in 2021 with the Edge of NFT Podcast and has since created the NFT LA conference. NFT LA hosted March 28-31, 2022 will be the largest NFT & Web3 gathering in Southern California, and at over 100 episodes the podcast continues to feature "the top 1% in NFTs today and what will stand the test of time." Believers in economic structures that value the attention of every participant, the company leverages its three founders' experiences in various domains including blockchain, fashion, real estate, music, neuroscience, foodtech and high-growth startups to catalyze co-creation in the Web3 and NFT space.

For Media Enquiries, Please Contact:
[email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCake DeFi, a Singapore-based fintech platform that makes DeFi (decentralised finance) services and applications accessible for everyone, has launched Cake DeFi Ventures (CDV), its venture capital arm with US$100 million in earmarked capital.

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Dubai, UAE, Mar 11, 2022 - (ACN Newswire) - Qenetex presents innovative solutions for secure and decentralized storage of funds. Security is guaranteed by the personal signature generated and encrypted on the owner's device. The Qenetex platform is designed to help connect blockchains, services, and tokens together, thus simplifying cryptocurrency management and making the crypto world more accessible to a broader audience.

What are the main advantages of Qenetex?

When someone makes an exchange on one of the major exchanges, they can see only one price and are limited by the list of tokens that the platform supports. Qenetex works differently, connecting more than 100 exchanges and providers worldwide, both decentralized and centralized. Within 2 seconds, the Exchange Search Engine analyzes big data from all over the global market and finds the most profitable exchange routes. At the same time, users do not need to spend time understanding how the exchanges work since the engine algorithm operates automatically.

Another problem Qenetex helps solve is commissions, namely high transaction and gas commissions. Firstly, Qenetex allows users to create multi-transactions, in which they can add as many recipients as they need in one block and pay only a one-time commission, saving on fees considerably. Secondly, the Qenetex team is working on the technology of gasless transactions called GTX that will enable users to pay a gas commission in the same token they transfer. Consequently, it will remove the need to hold specific tokens for commissions and eliminate risks of frozen funds due to the lack of thereof.

Finally, while the majority of wallets and exchanges take commissions for trading or buying/selling cryptocurrency as a company profit, our team decided to change the approach. We have created a model where users can return part of their commissions as cashback or even earn on transactions. It is possible due to the open protocol, where all users can transfer assets into the smart contract, providing funds for the operation of gasless and cashback rewards programs. Users who provide assets in the smart contract will receive cashback rewards from all transactions made with the exchange engine.

Payment gateway

Qenetex combines all services into one solution and creates a payment gateway, based on an open smart contract with the Qenetex token (QEX), to help businesses. The token is used inside the ecosystem, creating liquidity for exchange and cashback and assisting the distribution of rewards between the users.

The payment gateway is designed to be quickly and easily integrated into any application, game, store, or marketplace to sell hosting, music, tickets, real estate, etc. Any business owner can easily create an account, take a small technical script, instantly integrate it, and sell goods or receive payments directly from buyers. At the same time, all cryptocurrencies can be exchanged for fiat using our ecosystem.

About the company

Qenetex is an innovative platform that is based on decentralization technology and designed to serve as a bridge between digital assets and financial services. It allows users to securely store their funds in the non-custodial wallets, easily exchange them with the help of the Exchange Search Engine, and save on commissions through in-build features.

At the moment, the Qenetex team is working on expanding the platform and creating the entire ecosystem of various services (including Buying/Selling feature, MultiTrade, Launchpool, aggregated DeFi and NFT services, and full banking functionality), united in one simple and intuitive interface.

Social Links:
Facebook: https://facebook.com/Qenetex
Twitter: https://twitter.com/Qenetex
Linkedin: https://linkedin.com/company/Qenetex/
Telegram: https://t.me/Qenetex
Medium: https://medium.com/@Qenetex

Media contacts:
Company: Qenetex
E-mail: [email protected]
Website: https://qenetex.com

SOURCE: Qenetex

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com