Portfolio
2
companies
Merge
Merge builds banking and payments infrastructure for crypto and web3 businesses.
Nayms
Nayms provides a blockchain enabled marketplace for digital asset insurance.
Octopus Ventures led the financing, which included backing from Hashed, Coinbase Ventures, and several prominent industry angels.
"Merge's vision is to build the infrastructure necessary to allow crypto businesses to operate without fear of shutdown by regulators or third-party risk teams. We're excited to back them as they build that and, ultimately, unleash even more innovation in crypto and defi."
The funding follows a $2.1m seed round and supports the upcoming launch of the NAYM token.
"We were lucky enough to have such an oversubscribed round, allowing us to be highly selective with whom we brought into the project. The additional expertise across capital markets, legal and compliance, token economics and community building will continue to help us support the growing insurance movement within the digital asset space."
XBTO led the seed round to support pilot programmes and regulatory preparations for Nayms.
"This pilot represents a small but significant milestone for Nayms as we move into 2021 with accelerating traction. It is our belief that the problem of scaling insurance protection for the digital asset space will be solved through a collaboration between regulated underwriters/brokers and capital markets. Nayms is building the infrastructure to facilitate this collaboration."
