Zerion was founded to allow anyone around the world to gain access to financial services. To help in that endeavor, Zerion announced that it had raised $8.2 million in Series A funding. The funding round was led by Mosaic Ventures and included DCG, Lightspeed, Placeholder, Blockchain.com ventures, and several others.
The Idea Behind Zerion
Traditional finance has several hindrances; it faces several regulatory restrictions and is held back by siloed infrastructure. This restrictive nature of conventional finance has excluded millions of people from the financial markets, severely restricting their ability to participate in it.
Zerion’s founding team also faced these challenges and was driven to overcome these barriers. Founders Alexey Bashlykov (CTO) and Vadim Koleoshkin (COO) did not have access to investment opportunities thanks to geographical restrictions, which is what pushed them towards crypto.
A Financial Revolution
Thanks to DeFi, the middleman has been eliminated, and financial transactions that were slow and cumbersome can now be done instantly, thanks to the advent of smart contracts. With the elimination of the middleman, users of DeFi can access open lending platforms from anywhere in the world.
DeFi also lets users earn passive income through lending and staking, giving them higher yields than what the traditional financial market can only dream of offering. DeFi users can also participate in the governance of platforms, protect their investments through stablecoins and do so much more.
Untapped Potential
DeFi’s true potential is still untapped by the mainstream. This is because DeFi is still a very complicated field and also because the world has not seen financial interoperability at such a level. Zerion is changing that thanks to its award-winning interface that unlocks DeFi for all, regardless of their experience.
Zerion currently has over 200,000 active monthly users from over 150 countries and has processed over $600 million in transaction volume. The platform also aggregates every major decentralized exchange, offering users investment opportunities at the best possible rates with zero commission fees. An average of $5 million per day is traded on Zerion.
Zerion has also built the first DeFi native app on Android and iOS. It also does not take custody of the user funds or imposes any trading restrictions. Any asset on the Ethereum blockchain can be traded on Zerion.
“If we’ve learned anything from the past year, it’s that companies like ours now play an important role in defining how people access the new economy. This is a challenge that calls on us to build, learn & play in a way that accelerates growth for the entire DeFi ecosystem.”
The Way Forward
According to Zerion, the roadmap to future growth involves:
- Scaling up the infrastructure and setting a target of handing over 1 million active users on the platform.
- Zerion is working on adding multi-chain support with Layer-2 chains such as Polygon and other Ethereum compatible blockchains.
- Zerion is also working on providing a better user interface, including better onboarding, relevant learning opportunities, fiat onramps, and offramps.
A Few Changes
Zerion has also announced some changes along with their new investors. Toby Coppel from Mosaic Ventures and Brad Burnham from Placeholder will both be joining the Board of Directors at Zerion.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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