RAI Finance Receives Large Investment From NGC Ventures

Russian Officials Must Declare Crypto Holdings
Russian Officials Must Declare Crypto Holdings

RAI Finance, a self-described “blockchain-based cross-chain swap protocol,” has revealed that it “has succeeded in attracting a strategic investment from global crypto fund NGC Ventures,” according to a press release from the group.

RAI Finance also ensures “cross-chain swap functionality” on what is called the Polkadot blockchain network.

As mentioned, NGC Ventures is a “world-renowned crypto fund.” The company has put money into Algorand, Polkadot, Terra, and more.

Speaking on the matter is Koenho Lee, the CEO of RAI Finance, who said:

“We are very happy to succeed in attracting a series of strategic investments following the last round. We are currently running the RAI swap test version and will soon be ready for the launch.”

Also sharing some thoughts is Roger Lim, a founding partner of NGC Ventures:

“Rai is making DeFi with interchain operability possible, we believe this is one of the most critical things happening in 2021. RAI team are passionate and experienced, we are looking forward to being part of their journey.”

The release describes RAI Finance a little:

“RAI Finance is a protocol designed to provide DeFi with a wider range of assets, a higher amount of liquidity, and a diverse set of financial use cases. When this feature set is combined with the cross-chain compatibility of the Polkadot ecosystem, it eliminates fragmentation across the existing DeFi ecosystem by bringing a complement of new assets and a higher amount of liquidity to decentralized finance.”

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