March 4, 2024

Startup from Singapore raised $ 1 million for the development of DeFi products based on Bitcoin Cash

Singapore-based startup General Protocols, developing products for the DeFi industry based on Bitcoin Cash (BCH), raised more than $ 1 million in the initial round of financing.


Investors were players of the BCH ecosystem.

According to the company's statement, attractedThe funding will enable the expansion of the engineering team working on the AnyHedge derivative for decentralized finance and "expand operations around the world."

The startup calls AnyHedge the first derivative product for DeFi, using the technology of smart contracts Bitcoin Cash.

Recall, according to researchers at Arcane Research, in April, activity in the DeFi sector significantly decreased.