Crypto lending and borrowing platform CLST has attracted investment from the venture arms of Coinbase and Kraken for its seed funding round.
-
The size of the funding round, led by Spartan Group, has not been disclosed though a source familiar with the matter told CoinDesk that CLST has raised $5.3 million.
-
CLST’s aim is to attract hedge funds, trading firms, asset managers and banks looking to lend and borrow digital assets. The firm offers automated price negotiation and settlement for short-term debt.
-
Through allowing instant sharing of financial data between parties, CLST is hoping to attract institutional investors to digital assets who might otherwise be concerned by a lack of visibility over trading risk, collateral deposited and so on.
-
CLST said its platform will go live later this year.
-
Alongside Coinbase Ventures and Kraken Ventures, Luno Expeditions, the early-stage investment arm of CoinDesk parent company Digital Currency Group, also participated in the round.
Read more: Crypto Lender BlockFi Had $1.8B in Open Loans at End of June and $600M of Exposure
