With $8.5M in Funding, Can Strips Finance Make DeFi Derivatives Click?

Posted on by American Coins & Gold

With .5M in Funding, Can Strips Finance Make DeFi Derivatives Click?
A new derivatives platform announced an $8.5 million raise on Wednesday, part of an effort to overcome the ecosystem-wide reluctance in decentralized finance (DeFi) to embrace more complex financial instruments.Strips Finance, a fixed-income platform, raised the funds via a token sale with participation from Multicoin Capital, Sequoia Capital, Fabric Ventures and Morningstar Capital.Strips is planning to launch in November with initial functionality that will enable interest rate swaps (IRSs) via automated market makers (AMMs), the decentralized exchanges over which much of DeFi is transacted. In an interview with CoinDesk, Strips founder Ming Wu referred to IRSs as a “great instrument…