Recently, CGV officially announced its participation in the seed round financing of the innovative CeDeFi platform BitFi. BitFi completed this round of financing with a valuation of $50 million. Other confirmed investors include Fundamental Labs, IBC Group Ventures, TyreGate Capital Group, and Citizen Journalism Network Accelerator (CJNA).
BitFi was founded by Liu Han, the former co-founder and CTO of Ascendex Exchange. Since the early access launch on June 25, the platform has reached a peak Total Value Locked (TVL) of $400 million within just one month.
BitFi combines the strengths of centralized and decentralized financial solutions. By leveraging multi-chain adaptability and complex off-chain trading strategies, it provides users with secure staking yields and multi-level yield generation, maximizing returns on various assets including BTC. Led by a team with Wall Street backgrounds and deep expertise in quantitative trading, BitFi offers consistent, low-risk returns through neutral quantitative strategies, passive income across multiple chains, and BitFi-specific platform rewards. This comprehensive approach makes BitFi the preferred choice for BTC holders seeking to optimize returns and secure asset management solutions.
CGV believes that CeDeFi represents a deep integration of centralized and decentralized finance, poised to become a key force in driving traditional financial institutions to join the crypto ecosystem. As a pioneer in the CeDeFi space, BitFi provides BTC holders with a one-stop asset management solution through secure staking mechanisms and innovative synthetic assets. While ensuring asset security, BitFi significantly enhances asset yields through a combination of on-chain and off-chain innovative strategies, demonstrating vast growth potential.
This investment in BitFi represents CGV's continued commitment to the CeDeFi and crypto asset management sectors. In the future, CGV will fully leverage its industry resources to support BitFi's growth in various aspects such as investment, incubation, and business expansion, jointly promoting the prosperity and development of the CeDeFi ecosystem.
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About Cryptogram Venture (CGV):
CGV (Cryptogram Venture) is a crypto investment institution headquartered in Tokyo, Japan. Since 2017, its fund and predecessor funds have participated in investing in over 200 projects, including the incubation of the licensed Japanese yen stablecoin JPYW. CGV is also a limited partner in several globally renowned crypto funds. Since 2022, CGV has successfully hosted two editions of the Japan Web3 Hackathon (TWSH), supported by Japan’s Ministry of Education, Culture, Sports, Science and Technology, Keio University, NTT Docomo, and other institutions and experts. CGV has branches in Hong Kong, Singapore, New York, Toronto, and other locations. Additionally, CGV is a founding member of the Bitcoin Tokyo Club in Tokyo, Japan.
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