The Singapore-based fintech platform has no less than $100 million to invest in Web 3.0, gaming, and fintech startups. Consequently, they set up Cake DeFi Ventures (CDV) to coordinate this. As a result, this will take Cake another step further by reaching a broader audience.
Cake DeFi has already been around since 2019, which has created a fully transparent and innovative platform. For example, their regulated global fintech platform manages $1 billion. That is an impressive number of customer assets to handle. On top of that, they have well over half a million registered users. As a result, these users earn passive income from Cake’s investments.
Cake DeFi Invest $100 Million in Web3, Gaming, and Fintechs
Cake not only doubled confirmed users in Q1 2021. Most importantly, they grew by 10X in the whole of 2021. Therefore, they paid lo less than $230 million out to customers as rewards in 2021. Q4 2021 alone was a whopping $75 million. Furthermore, customers assets grew by 6X.
The expected pay-out in 2022 is set at $400 million. To clarify, pending on crypto prices, this could go up to $1 billion.
The focus of Cake DeFi Ventures (CDV) will be on a variety of tech startups investments like Web 3.0, metaverse, NFT, P2E, among others. Combined, they will bring extra value to Cake’s core business. In other words, lending, liquidity mining, and staking.
Therefore, companies can open portfolios with Cake. In return, they can count on strong support, by having access to more than just Cake products. For instance, connections, users, and resources are available. In addition, expertise within the global blockchain industry.
CaKe DeFI CEOs, Dr. Julian Hosp and U-Zyn Chua are building Cake as the world’s leading DeFi investment platform. Therefore, their search for investments is a global one.
More About Cake DeFi
This is what Dr. Hosp, Co-founder and Chief Executive Officer of Cake DeFi, had to say about CDF:
“By launching Cake DeFi Ventures, we strive towards bringing cryptocurrency and blockchain capabilities to the world. With Cake’s current status as Singapore’s and Southeast Asia’s fastest-growing platform, projects which we invest in can expect to receive strong support scaling globally.”
Moreover, U-Zyn Chua, Co-founder and Chief Technology Officer of Cake DeFi have this to say: “As an extension of our multiple blockchains support and having built up an R&D arm with cryptography deep tech capability and specialization. Investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance our Web3 offerings.”
— Cake DeFi (@cakedefi) March 7, 2022
About The Edge of Company, Inc.
This is a media, events, and tech venture. They are best known as a leading NFT podcast and ecosystem builder. This will open up a passage into the Web 3.0 and NFT space for Cake DeFi.
Jeff Kelley, Co-Founder, The Edge Of Company, Inc reacted as follows: “The entire team at The Edge Of Company is honored to have Cake DeFi Ventures as part of the Edge family. Their know-how, relationships, and strategic insights will help propel this Web3 rocket ship to new heights across our platform of tech, media, and events.”
The Edge of Company launched in 2021. Nonetheless, in a short time frame, they established the Edge of NFT Podcast. This is a well-known and respected podcast series. Currently, they already aired 114 podcasts. They feature “the top 1% in NFTs today and what will stand the test of time.”
Furthermore, they created the NFT LA conference. This year is hosted from March 28-31, 2022. It will be the largest NFT and Web3 gathering in Southern California.
Source: Edge of NFT
Finally, with $100 million in the register, Cake DeFi Ventures (CDV) is on the lookout for global investments. This new corporate venture arm of Cake DeFi is looking at global Web3, gaming, and fintech startups. Their goal is to speed up the growth of tech firms. As a result, this will in turn benefit their user base and their core business. Lending, yield farming, and staking.
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