Mexico City, Mexico, July 22nd, 2024,
Chainwire
Etherfuse, a pioneering platform for the issuance of
tokenized real-world assets, announced today that it has
successfully raised $3 million in a seed funding round. The round
was co-led by White Star Capital and North Island Ventures, with
participation from The Department of XYZ, The Stellar Development
Foundation, Funfair and angels Alice Ann Schwartz & Anna Yuan.
This funding will support Etherfuse in its mission to make global
capital markets more efficient and accessible through blockchain
technology.
Etherfuse is building an industry-leading platform for the
tokenization of real-world assets. Bringing these assets on-chain
offers significant cost, efficiency, and accessibility benefits.
Etherfuse has already begun tokenizing emerging market government
debt – “Stablebonds” – with an initial focus on Latin America. The
Etherfuse team is confident that these bonds will offer
yield-bearing, transferable, and composable features in
decentralized finance (DeFi). Ultimately, Etherfuse aims to become
the largest compliant issuer of a tokenized assets from across the
globe.
Etherfuse has undertaken extensive regulatory efforts in Mexico
and aims to use this unique legal framework to establish itself as
a leading global platform for compliant tokenized assets. The
company has launched five products so far, including short-term
notes from Mexico and Brazil. Recently, Etherfuse facilitated the
creation of a Mexican stablecoin with their tokenized-Cetes
Stablebonds, MXNe, in collaboration with stablecoin issuer Brale.
Currently, Etherfuse issues assets on the Solana and Stellar
blockchains, with plans to expand to additional chains in the
future.
Etherfuse is led by CEO David Taylor, an experienced engineer
with a background in cryptography at companies including Apple and
Boeing. David is joined by his co-founder AJ, who serves as CTO and
brings with him engineering background in payments technology. The
team is split between Irvine, CA and Mexico City, MX.
"Etherfuse will programmatically provide the needed
debt and assets to the next generation of blockchain developers,
enabling them to revolutionize the finance world," said David
Taylor, CEO at Etherfuse. "These protocols and assets eliminate
barriers and intermediaries, granting everyone access to the
world's safest investments."
“The vision is for Etherfuse to not only capture, but
to expand the emerging bond market by removing the manifold
barriers that currently prevent people and businesses from
accessing the high, real, and safe yields that these assets
provide. Providing an API to the blockchain world that connects to
some of the safest investment assets is hugely enabling for app
developers, including those working with stablecoins, looking to
build safer, higher-yield, and more stable products
on-chain", commented Sep Alavi, General Partner at White Star
Capital. "As we have spent significant time with the Etherfuse
team, we've been consistently impressed with their dedication and
patience, particularly in the complex and arduous regulatory
landscape that they are building a moat by navigating'", added
Marthe Naudts, Associate at White Star Capital.
"The movement to tokenize traditional financial assets
has the potential to transform our capital markets,” said Travis
Scher, Managing Partner of North Island Ventures. “We believe that
Etherfuse's strong team and innovative approach will establish the
company as a leader in bringing the world’s assets on-chain, and we
are excited to support Dave and AJ on this
journey.”
About Etherfuse
Etherfuse is an issuer of tokenized real-world assets,
with an initial focus on emerging market sovereign debt. By
leveraging blockchain technology, Etherfuse aims to improve the
efficiency and accessibility of global financial markets. The
company's flagship product, Stablebonds, offers a secure,
transparent, and accessible investment option, backed by government
bonds, and issued under a regulatory framework in Mexico. For more
information, please see Etherfuse’s website and Twitter.
Contact
CEO
Dave
Taylor
Etherfuse
contact@etherfuse.com