Tenity, a worldwide innovation ecosystem and early-stage fintech investor, is increasing its give attention to decentralised finance (DeFi) by way of its Incubation Fund II.
The fund will present assist to startups constructing on the XRP Ledger (XRPL) throughout Asia and Europe.
Backed by establishments reminiscent of UBS, SIX Group, Julius Baer, Generali’s Home of InsurTech Switzerland, and Ripple, which can be a strategic companion and Restricted Associate, the fund seeks to foster the event of blockchain-based monetary options.
Tenity has highlighted the XRP Ledger’s pace, power effectivity, and safety as key elements for its adoption.
The platform has operated reliably for over a decade with none reported safety breaches and gives capabilities reminiscent of a decentralised alternate (DEX), tokenisation assist, and escrow performance.
The partnership builds on Tenity’s work with Ripple since 2023, which has supported 29 startups chosen from greater than 200 functions.
These accelerator programmes have centered on growing DeFi options, real-world asset tokenisation, and fee improvements.
By its Incubation Fund II, Tenity invests in fintech and insurtech on the pre-seed and seed stage by way of accelerator programmes in Zurich, Singapore, and Tallinn.
The fund supplies early-stage funding alongside mentorship and entry to its community. It goals to ship worth for each its portfolio firms and restricted companions.
Tenity is working to construct a various portfolio, focusing on subsegments throughout fintech and insurtech to assist rising improvements within the monetary trade.
“We consider decentralised finance is reshaping the way forward for monetary providers by providing extra accessible, environment friendly, and modern options.
By empowering startups to drive this transformation, we intention to speed up the event of applied sciences that may resolve real-world challenges and redefine the way in which monetary programs function globally.”
stated Andreas Iten, CEO and Co-Founder at Tenity.
Featured picture credit score: Edited from Freepik
