Berlin, Germany-based provider of privacy-protective compliance and identity infrastructure for Decentralized Finance (DeFi), Violet raised USD 15 million in funding. The company announced the fundraise on March 9, 2023. BlueYard Capital, Balderton, Ethereal Ventures, FinTech Collective, Brevan Howard and Coinbase Ventures led the financing for the company.
Besides, the company announced the launch of Mauve. It is the world’s first compliant Decentralized Exchange (DEX) purpose-built to offer the best of both DeFi and Traditional Finance (TradFi) to the crypto markets.
Purpose of funding for Violet
With the latest capital injection, the company seeks to fuel the adoption of its recently launched platform, Mauve.
What the company’s officials have to say
Co-Founder of Violet, Markus Maier, said, “Mauve is a direct response to the FTX fallout, which has significantly eroded trust in crypto globally by misappropriating funds. The future is dependent on the continued adoption of non-custodial crypto exchanges. Mauve empowers its users to trade without surrendering custody of their assets. This means no one can access, much less steal, any retail or institutional investor’s funds, helping to restore confidence among market participants.”
Besides, Violet Co-Founder Philipp Banhardt said, “We envision a future without intermediaries where all financial products and services run on decentralized crypto rails. This vision requires deep integration between TradFi and DeFi and is the reason why we started Violet and now Mauve. We are excited to partner with other builders as we advance on our mission to evolve trust in DeFi, towards more robust and sustainable growth going forward.”
What the investors have to add
Sean Lippel, General Partner at FinTech Collective, further said, “The timing of the release of Mauve is critical given that crypto finds itself once again in the crosshairs of global regulators. Our thesis has always been that in order to make DeFi sustainable in the long term, it will need real-world use cases and connectivity that can only be accomplished with a robust identity and compliance layer. We think Mauve is the beginning of a new wave of institutional-ready protocols. It has all the benefits of decentralization, composability, and transparency.”
In addition, Min Teo, Managing Partner, Ethereal Ventures, said, “Mauve ushers in a new paradigm of compliant DeFi protocols, bridging the gap between on-chain continuous trading, transparency and compliance.”
About Violet
Markus Maier and Philipp Banhardt launched the company in 2021. Violet aims to aid DeFi in fulfilling its potential to become the default financial system of the 21st century.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
, Violet raised USD 15 million in funding.){kind=link}