fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home FinTech

Cake DeFi releases $317m in payout to customers as it turns 3

Team AsiaTechDaily by Team AsiaTechDaily
14 June 2022
in FinTech
0
Cake Defi
26
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Cake DeFi, Singapore’s fastest-growing Decentralized Finance (DeFi) platform, marked its third anniversary with a significant achievement.

The company claimed that it had paid out over $317 million in prizes as of the end of Q1 2022, while continuing to witness strong quarterly business growth of about 90% since 2019.

Cake DeFi also announced today that it will invest an additional $1 million in environmental, social, and governance (ESG) initiatives to help build a sustainable DeFi ecosystem and local CSR programs.

This year, Cake DeFi will collaborate with SportCares to help disadvantaged people enjoy and benefit from sport by instilling confidence and improving their attitude on life. The collaboration with SportSG will focus on a basketball-based athletic development program, as well as volunteer opportunities and enrichment courses.

Dr. Julian Hosp, CEO and Co-Founder of Cake DeFi, said despite the recent downturn in crypto prices, they have continued to experience tremendous growth in the past three years.

Cake DeFi paid out a staggering $317 million in rewards to their customers in just three years.

“We achieved this by creating a safe and secure one-stop platform for consumers to easily access DeFi services,” Hosp said in a statement.

The company’s next stage of growth will come from building access to DeFi and Web3 not just for consumers but to include businesses as they reach their goal to be listed on a public stock exchange in the near future.

Earlier this year, Cake DeFi was offered a SPAC merger at $1.5 billion. However, Hosp said they turned it down.

Cake DeFi also announced today that it has completed an EU licensing milestone and is now permitted to provide and administer cryptocurrency custodial wallets in Lithuania. This is an important step that will assist Cake DeFi’s cryptocurrency registration and authorisation in additional EEA member states, as well as its eventual conversion to an EU-wide cryptocurrency authorisation once the EU Markets in Crypto-assets (MiCA) Regulations take effect.

Cake DeFi has been dedicated to its aim of improving financial inclusion and encouraging the prudent investment of crypto assets to produce passive income since its inception in 2019. It aspires to continue assisting both seasoned and inexperienced investors to create returns on their cryptocurrencies and digital assets safely and securely, with over $1 billion in total customer assets on the platform and near to a million registered users.

Previous Post

Biteship raises undisclosed funding to accelerate plans for product development

Next Post

Vietnam’s Houze scores $2m in recent funding round for expansion

Related Posts

edit post
PayMongo
FinTech

PH fintech startup PayMongo names new CEO

January 31, 2023
edit post
Komunal
FinTech

Komunal secures $8.5m to strengthen Indonesia’s neo-rural bank ecosystem

January 31, 2023
edit post
Xendit
FinTech

Indonesia’s Xendit enters Malaysian market to offer hyperlocal payment solutions

January 23, 2023
edit post
Grab
FinTech

Grab Vietnam partners with ZaloPay to enhance cashless payment experience

January 29, 2023
edit post
Manafa
FinTech

Saudi’s Manafa raises $28m in Series A funding

January 3, 2023
edit post
Centbee
FinTech

Centbee raises $1m in pre-Series A funding round led by Ayre Ventures

January 1, 2023
Next Post
edit post
Houze

Vietnam's Houze scores $2m in recent funding round for expansion

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback