Fyde Treasury Secures $3.2 Million in Seed Funding Round for Crypto Treasury Management Solution

LONDON -- Businesswire -- Fyde Treasury (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.fyde.fi%2F&esheet=53872116&newsitemid=20231219912941&lan=en-US&anchor=Fyde+Treasury&index=1&md5=a09900b5e86ced6832a8c1099214ff4e), a blockchain technology company led by a former NASA scientist, has closed a $3.2 million seed funding round marking a major stride towards tackling a critical industry concern - the management and scalability of on-chain crypto treasury holdings. The round was spearheaded by OP Crypto Ventures, with investments from Arrington Capital, Big Brain Holdings, and Merit Circle, among other notable funds and angel investors.

“We are more than excited to collaborate with Fyde in a long-lasting partnership. As Fyde progresses and their platform is released, we’re thrilled to function as the bridge between ourselves and other portfolio companies within the DAO. Each and every single one of them faces the same challenges of managing a treasury.” - Tommy Quite, CFO & Co-Founder of Merit Circle

Fyde’s founding team draws on a wealth of experience hailing from global financial institutions, web3, and academia. Team members hold distinguished PhD backgrounds and research positions from institutions such as Stanford, Cambridge, UCLA and business degrees from London Business School.

Unleashing On-Chain Treasury Management

In the realm of cryptocurrency, effective treasury management entails overseeing the value of tokens created by blockchain smart contracts. Fyde Treasury has pioneered a solution for a secure, non-custodial, “liquid vault” tailored for holders of cryptocurrencies. Owners deposit a variety of digital assets into the liquid vault, retain ownership over their tokens and gain enhanced performance. This enables users to receive a systematic approach to mitigating risk in DeFi in a simple, painless solution. Additionally, users will be incentivised to trade the liquid vault token $TRSY, offering a reliable and efficient payment avenue.

The protocol is stress tested and optimised by a simulation engine. This system uses heuristic and stochastic agent-based modelling to model tokenomic designs and create aligned incentive structures between blockchain companies, decentralised computers, and token holders.

The injection of funds will propel Fyde’s mission to confront the substantial challenges of overseeing multi-billion dollars (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fdeepdao.io%2Forganizations&esheet=53872116&newsitemid=20231219912941&lan=en-US&anchor=multi-billion+dollars&index=2&md5=c12f1b48904b9e46fb64f952e5488257) of on-chain crypto treasury tokens. The imperative for a decentralised solution has become increasingly urgent in the wake of the setbacks faced by centralised, non-transparent crypto companies in 2022, coupled with the persistent volatility within the sector and the growing instability of conventional banking systems.

Fyde Treasury Protocol has recently launched on Ethereum in December 2023. The team extends an invitation to join Fyde Treasury Protocol during their liquidity on-ramping process and accrue FYDE points.

About Fyde Treasury

Fyde Treasury is designed to unleash the crypto treasury management ecosystem by introducing a liquid vault that enables a solution useful for beginners to power users in a compliant and crypto native manner. It effectively handles the four pillars of crypto treasury management: asset diversification, yield generation, token liquidity, and governance preservation. The company was founded in Q3 2022.

For more information about Fyde Treasury, please visit Website or contact gm@fyde.fi

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