Cryptocurrency investment firm Spartan Group has invested in Pendle Finance to power growth in decentralized finance (DeFi).
Spartan Group consolidated the investment it made two years ago into Pendle Finance. Purchase over OTC He invested through.
No information was given about how many tokens were purchased within the scope of the agreement or the total value of the agreement.
Pendle Finance, the DeFi platform that brings returns to users, received an investment of $ 3.7 million in 2021 from a group of investors including Mechanism Capital, Crypto.com and Spartan Group.
“The combination of Liquid Staking Derivatives and Real World Assets presents an unprecedented growth opportunity for the DeFi industry,” said Spartan Group Managing Partner Kelvin Koh. “Pendle’s pioneering work in this field puts them at the forefront of these exciting developments.” said.
Returns offered by Pendle Finance, Can be bought and sold in tokens. Pendle Finance has jumped into the Real World Assets (RWA) trend by developing a new product that delivers returns based on developments in traditional sectors.
PENDLE, which receives most of its transaction volume from Binance, has increased in the last 30 days according to CoinGecko data. Gained 48.8% value.