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SBF leads $50M funding round to bring DeFi to Maps.me's 140M users

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SBF leads $50M funding round to bring DeFi to Maps.me's 140M users


A travel and mapping application with 140 million users worldwide has raised $50 million to integrate decentralized finance protocols into its platform.

Maps.me, a disconnected planning application that flaunts 140 million clients around the world, has brought $50 million up in a seed subsidizing round drove by Alameda Research with an end goal to fabricate a decentralized money environment inside the guide application.

Different financial specialists including Genesis Trading and CMS Holdings likewise partook in the round, as per a declaration from Alameda on Monday.

The objective is to dispatch an inserted multi-money wallet inside Maps.me, which gives travel aides and guide benefits just as permits clients to partake in yield-procuring account and to win cashback by means of exchanges through the wallet.

"By inserting and democratizing admittance to yield-procuring money to a huge number of clients through a regular application, Maps.me can possibly truly push DeFi standard selection and carry a weighty innovation to the majority," said Sam Bankman-Fried, author and CEO of Alameda Research and furthermore crypto trade FTX.

"We're eager to be working with our accomplices to make a DeFi environment on a stage that has just accomplished scale as far as its number of clients, and which will grow administrations that are firmly connected to monetary needs,"Maps.Me's prime supporter Alex Grebnev said in the assertion.


As per the delivery, over 58% of the Maps.me clients come from the European mainland and over 70% between the ages of 18-40.


"We also plan to give our users the ability to trade a wide range of assets that are not limited by geographical boundaries or transaction size."


Maps.me, a disconnected planning application that flaunts 140 million clients around the world, has brought $50 million up in a seed subsidizing round drove by Alameda Research with an end goal to fabricate a decentralized money environment inside the guide application.


“By embedding and democratizing access to yield-earning finance to millions of users via an everyday app, Maps.me has the potential to really propel DeFi mainstream adoption and bring a groundbreaking technology to the masses.”


Different financial specialists including Genesis Trading and CMS Holdings likewise partook in the round, as per a declaration from Alameda on Monday.


“The industry is waiting for a catalyst for the mass adoption of DeFi tools and we’re excited to make this a reality by leveraging our active userbase as a means to bootstrap a retail community for a new innovative DeFi platform on Maps.me.”


The objective is to dispatch an inserted multi-money wallet inside Maps.me, which gives travel aides and guide benefits just as permits clients to partake in yield-procuring account and to win cashback by means of exchanges through the wallet.

"By inserting and democratizing admittance to yield-procuring money to a huge number of clients through a regular application, Maps.me can possibly truly push DeFi standard selection and carry a weighty innovation to the majority," said Sam Bankman-Fried, author and CEO of Alameda Research and furthermore crypto trade FTX.

"We're eager to be working with our accomplices to make a DeFi environment on a stage that has just accomplished scale as far as its number of clients, and which will grow administrations that are firmly connected to monetary needs,"Maps.Me's prime supporter Alex Grebnev said in the assertion.

As per the delivery, over 58% of the Maps.me clients come from the European mainland and over 70% between the ages of 18-40.

JANUARY 17, 2021