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Singapore-based crypto bank Vauld is working hard to elevate crypto to the status of a separate, viable asset class. It combines the functionality of an exchange with all the essential offerings of a bank, except it\u2019s for cryptocurrencies.<\/strong><\/p>\n The Vauld team just raised USD 2 million from Pantera, Coinbase Ventures, and CMT digital among others, over the last four months. \u201cThe investors loved that we were building to solve for banking with cryptocurrencies,\u201d says CEO, Darshan Bathija.<\/p>\n As the crypto market dominates financial news and gears up for what could be its best year in 2021, the Vauld<\/a> team plans to use the funds to expand its team from 7 to over 20, and initiate an active presence in new markets. The crypto bank currently offers fairly high yields \u2013 ranging from 3% to 11% on its customers\u2019 crypto deposits, while simultaneously offering crypto loans and exchange functionality.<\/p>\n Now, the Vauld<\/a> team expects to double down on these offerings, with higher yields, an OTC desk, and more fiat pairings on its exchange. Vauld\u2019s primary audience is high net worth individuals who, Darshan says, \u201cwant to earn yield but would rather not incur capital gains liability as well\u201d.<\/p>\n The team does state that it will continue to be beginner-friendly, inviting new investors to participate in the market. On a related note, Vauld is also quick to recognize that amongst the first concerns in early crypto adopters is the security and safety of their funds. Addressing that rather emphatically is Vauld\u2019s partnership with BitGo, a fairly trusted, leading custodian brand in the crypto world. BitGo\u2019s wallets are insured by Lloyd\u2019s London for a sum of $100 Million.<\/p>\n As for the often ambiguous legal perspective on cryptocurrencies across markets, Vauld says they will \u201cwork closely with the commodities and banking regulators to ensure that we and [their] partners are and remain fully compliant through the changing regulatory landscape.\u201d<\/p>\n Vauld is led by Darshan Bhatija and Sanju Sony Kurian, both bringing rich experience in building and scaling startups past their Series A rounds. Darshan has also worked as the head of business of TapChief. Sanju has served as the CTO of Kings Learning, a scaled product of 25 million users.<\/p>\n Vauld<\/a> is an evolved idea of a bank, combined with the potential of cryptocurrencies. Using Vauld, users can lend, borrow, and trade in crypto assets just like fiat currency or conventional assets.<\/p>\n Vauld ticks off the four traditional objectives of a banking institution:<\/p>\n With its products and partnerships, there\u2019s strong potential for Vauld to be a leading player in this newly emerging crypto banking space. The crypto banking concept itself holds considerable potential, and almost heralds the coming of age of the crypto world. If you\u2019re a crypto enthusiast wanting to participate in the industry, Vauld\u2019s referral program probably deserves your attention. The platform promises 40% of the trading fees and 5% of all interest paid or earned, to all its users successfully referring friends. Coupled with its rather active and engaging Telegram community<\/a>, it\u2019s an enviable user base the brand is building for itself.<\/p>\n \u00a0<\/p>\n This is a sponsored post. Learn how to reach our audience here<\/a>. Read disclaimer below.<\/em><\/small><\/p>\n The post Vauld Raises $2 Million to Establish Stronghold in India<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nVauld Raises $2 Million<\/h2>\n
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<\/p>\nVauld\u2019s Offerings<\/h2>\n
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