Blue has raised $3.2 million to offer a know-your-customer compliance product for users trading on major DeFi protocols. LizKNapolitano reports.
), a term used to refer to lending, trading and other financial activities carried out on a blockchain without traditional middlemen, reached new heights in the wake of centralized crypto currency exchange FTX’s collapse late last year, and a series of crypto exchange bankruptcies earlier that year.
The company has already begun working on several proof-of-concept projects with major DeFi protocols, which it will announce in the coming months, said Blue co-founder and CEO Casper Yonel.
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