Folks Finance raises $7.5 million to expand Cross-Chain DeFi lending

. The new round provides the necessary fuel for the launch of a Cross-Chain expansion of the product suite, powered by Wormhole, Chainlink CCIP, and Circle CCTP.

The Folks team will launch its Hub & Spoke lending using Chainlink CCIP, Wormhole, and Circle CCTP to enable cross-chain messaging and transfers. Avalanche, Base, Ethereum, and Arbitrum are set as the initial deployments for April 2024. The team forecasts around 15 chains to be integrated by the end of the year.

The product roadmap also includes the FOLKS governance token, which will be released following the launch of the Cross-Chain expansion.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Beyond Banking Apps: How Embedded Finance Is Reshaping FinanceIvo Gueorguiev, co-founder at Paynetics. Read Ivo Gueorguiev's full executive profile here.
Source: ForbesTech - 🏆 318. / 59 Read more »

Ethereum Staking Protocol Lido Finance Surpasses 1 Million ValidatorsCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

DeFi platform Hedgey Finance hit by $44 million exploitOver $500 million worth of digital assets were lost to hacks and exploits in Q1 2024.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Ethereum liquid restaking protocol Puffer Finance reaches $200 million valuation in new token funding roundPuffer Finance has raised $18 million in a Series A funding round co-led by Brevan Howard Digital and Electric Capital.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Blast-based Leaper Finance flagged as expert cites nearly $1 million baitRenowned on-chain detective ZachXBT has flagged Leaper Finance, a new project on Layer 2 (L2) network Blast.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Pac Finance Sudden Parameter Change Sparks $24 Million LiquidationCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »