Mexico City, Mexico, July 22, 2024, Chainwire
Etherfuse, a pioneering platform for issuing tokenized real-world assets, today announced 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 lead investors Alice Ann Schwartz and 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 tokenizing real-world assets. Bringing these assets on-chain offers significant benefits in terms of cost, efficiency, and accessibility. Etherfuse has already begun tokenizing emerging market government debt (the “stable bonds”), with an initial focus on Latin America. The Etherfuse team is confident that these bonds will offer yield, transferability, and composability features in decentralized finance (DeFi). Ultimately, Etherfuse aims to become the largest compliant issuer of tokenized assets worldwide.
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 its tokenized Cetes stablecoins, MXNe, in collaboration with stablecoin issuer Brale. Etherfuse currently issues assets on the Stellar and Stellar blockchains, with plans to expand to additional chains in the future.
Etherfuse is led by CEO David Taylor, a seasoned engineer with experience in cryptography at companies like Apple (NASDAQ:) and Boeing (NYSE:). David is joined by his co-founder AJ, who serves as CTO and brings engineering experience in payments technology. The team is split between Irvine, California and Mexico City, Mexico.
“Etherfuse will programmatically provide the debt and assets needed by the next generation of blockchain developers, allowing them to revolutionize the financial world,” said David Taylor, CEO of Etherfuse. “These protocols and assets remove barriers and middlemen, giving everyone access to the world’s most secure investments.”
“Etherfuse’s vision is to not only capture, but expand the emerging bond market by removing the multiple barriers that currently prevent individuals and businesses from accessing the high, real, and secure returns that these assets provide. Providing an API to the blockchain world that connects to some of the safest investment assets is a boon for application developers, including those working with stablecoins, who are looking to build safer, higher-yielding, and more stable products on the blockchain,” commented Sep Alavi, General Partner at White Star Capital. “As we have spent significant time with the Etherfuse team, we have been consistently impressed by their dedication and patience, particularly in the complex and arduous regulatory landscape that they are building an edge in navigating,” added Marthe Naudts, Partner at White Star Capital.
“The movement to tokenize traditional financial assets has the potential to transform our capital markets,” said Travis Scher, Managing Partner at North Island Ventures. “We believe Etherfuse’s strong team and innovative approach will establish the company as a leader in bringing the world’s assets onto the blockchain, and we are excited to support Dave and AJ in this journey.”
About Etherfuse
Etherfuse is an issuer of real-world tokenized 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, check out Etherfuse’s website and Twitter.
ContactCEODave TaylorEther fuse[email protected]
This article was originally published on Chainwire
