Vixichain, a blockchain startup located in Vilnius, Lithuania, has secured $7 million in funding to help address the reluctance of Traditional Finance (TradFi) institutions to engage with public blockchains. The specific investors backing this round have not been disclosed. The company plans to use the funds to bolster research and development efforts, forge strategic alliances with financial institutions, and further its business goals ahead of upcoming DevNet and mainnet launches.
Under the direction of CEO Roy Mayer, Vixichain aims to enable financial institutions to participate in blockchain technology, offering a range of decentralized finance (DeFi) applications through smart contracts that improve transaction speed, security, and compliance. The Vixi Wallet also supports the ecosystem, allowing users to manage their digital assets while selecting their preferred institutions for transaction verification.
Vixichain is an innovative blockchain company based in Vilnius, Lithuania, focused on transforming the landscape of Traditional Finance (TradFi) by facilitating seamless interaction with public blockchains. Founded to address the apprehensions of financial institutions regarding blockchain technology, Vixichain offers a robust Layer-1 platform designed to empower these institutions to leverage decentralized finance (DeFi) applications without incurring capital expenditures.
The company’s comprehensive suite of solutions includes smart contracts that streamline transactions, enhancing both speed and security while ensuring regulatory compliance. Vixichain’s ecosystem is anchored by the Vixi Wallet, a user-friendly interface that allows end-users to store, send, and receive digital assets, providing flexibility in choosing their preferred institutions for transaction validation. With a vision to reshape the financial landscape, Vixichain is poised to lead the charge in bridging traditional finance with the evolving world of blockchain technology.
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Read the orginal article: https://arcticstartup.com/vixichain-raises-7m/
