Singapore's Defi protocol iZUMi Finance raises $30 million

Singapore's Defi protocol iZUMi Finance raises $30 million
Photo by Kanchanara / Unsplash

iZUMi Finance, a decentralized finance platform based in Singapore has raised $30 million through the sale of bond vouchers and claims on its iZUMi Bond USD (iUSD).

  • iZUMi Finance provides liquidity services by converting assets into cash or another asset.
  • The Defi platform is deployed on the Ethereum, BNB Chain, Polygon and Arbitrum blockchains with $58 million in total lock value, it claims.
  • It has also launched iZiSwap decentralized exchange (DEX) using a novel automated market maker (AMM) protocol and the iUSD token.
  • The iUSD token is 1:1 equivalent to the US dollar, and it's backed by iZUMi's collateral and future revenue; the iUSD is sellable to private investors.