CoinFund-backed Veda raises $18M as stablecoin yield becomes ‘inevitable’

The DeFi vault platform has received funding from several VCs, including CoinFund, Coinbase Ventures and Animoca Ventures.

Decentralized finance protocol Veda has raised $18 million to accelerate the adoption of its vault platform, which enables asset issuers to build crosschain yield products, including yield-bearing stablecoins.

The funding round was led by venture capital firm CoinFund, with additional participation from Coinbase Ventures, Animoca Ventures, BitGo, Mantle EcoFund, GSR, Relayer Capital, PEER VC, Draper Dragon, Credit Neutral, Neartcore and Maelstrom, the company disclosed Monday. 

Veda’s angel investors include the co-founders of Anchorage, Ether.Fi and Polygon.

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