Zerion and its financial services for cryptocurrency operations
The promising Zerion Fintech project has received financing in the amount of $2 million. A significant part of the amount was invested by the venture fund Placeholder Ventures from the USA, and other investors were the organization Blockchain Ventures, a well-known company Gnosis, which deals with the products of the blockchain, as well as independent business angels.
The company Zerion is located in New York, its founders are two Muscovite and one Odessit. The staff consists of 9 people who work remotely from different parts of the world – Russia, Great Britain, USA and Lithuania.
Zerion is not their first project. The young people have already worked on cryptocurrency and products using Blockchain technology and have managed to collaborate with The Token Fund, a platform that invests in crypto assets.
The startup management plans to spend the $2 million on functionality to make deposits and loans in the cryptocurrency. Zerion product is a DeFi platform through which customers will be able to use traditional financial services, but they do not need to contact banks or specialized institutions. The goal of the startup is to improve financial processes and make them as accessible and convenient as possible, thanks to the blockchain technology and automation of all stages of service formalization.
All calculations through the DeFi platform will be performed in cryptocurrency. After registration in the service, the user must bind a crypto wallet to his personal account or create it. For transactions it will be suitable to use ethereum or stablecoins, which must be linked to any fiat currency, such as USDC, for instance.
The platform from Zerion allows you to make deposits, take out loans and use a number of other financial programs:
- exchange currencies through the Uniswap platform, which hosts a large number of pairs of tokens;
- deposit money with a rate of interest using Compound service. The platform offers a profitable option – the interest rate for stablecoins at 4% per annum;
- take out a cryptocurrency loan against certain collateral.
The service began its work this year and has already attracted people from different countries. During this period, operations through the platform were carried out for a total of 47 million dollars. Every month the resource is visited by about 2 thousand users from the UK, Russia, the States and Asian countries. In just one year the volume of clients of the service has reached 10 thousand people.
Currently, the project of Zerion startup is free, but the company plans to monetize the service by introducing additional features, expanding services and automated trading. The developers are also working on creating a mobile application with the most convenient interface, which will allow them to carry out financial operations at any time.