Blockchain-based debt provider Obligate completes $4 million seed extension round financing, with participation from Circle Ventures and others

ChainCatcher news, according to CoinDesk, blockchain-based debt provider Obligate (formerly FQX) announced the completion of a $4 million seed extension round, with participation from Circle Ventures and Blockchange Ventures. Including the initial fundraising at the end of 2021, Obligate's total seed round financing has now exceeded $8.5 million. This funding will help the company expand its debt platform, which is set to launch on Polygon next month.

It is reported that Switzerland-based Obligate supports companies in issuing on-chain bonds and commercial papers to raise funds from investors in a regulated DeFi environment. Issuers must pass KYC verification before creating a bond program that suits their liquidity needs, with liquidity priced in stablecoins like USDC but quickly convertible to USD. (Source link)