RioDeFi is disrupting Asia FinTech landscape with its interoperable Blockchain hub
Singapore — 30 MAR: RioDeFi has the wind in its sails. Bolstered by the global surge of interest in Bitcoin and cryptocurrencies, the Hong Kong based blockchain technology company is spurring an ecosystem of decentralised financial services, commonly referred to as “DeFi” that is disrupting the way money works in South East Asia.
One of the main value propositions of decentralised financial applications is to give their users the possibility to become service providers and be rewarded for contributing their digital assets to liquidity pools via a process called staking. The total amount of digital assets staked in D eFi protocols has experienced a vertiginous increase recently, surging from less than a billion dollar in Spring 2020 to more than 45 billion dollars at the time of writing.
Over that same period the startups incubated by RioDeFi as part of its blockchain hub have garnered a lot of attention each in their respective field.
RioDeFi’s first incubated project is MANTRA DAO, a community-governed DeFi platform focusing on Staking and Lending services that uses RioDeFi’s interoperable technology to support the transfer of digital assets across different networks. Since its inception last summer MANTRA DAO has built a global community of 40,000 followers and its native cryptocurrency OM recently hit a market capitalization of $200 million.
For John Patrick Mullin, Council Member at MANTRA DAO, “In this fast moving DeFi industry, agility is of primary importance. Working with RioDeFi has enabled us to bring our solution to market very rapidly and to establish mutually beneficial partnerships with the other projects that gravitate in their ecosystem. The blockchain space is maturing and I anticipate that RioDeFi’s approach of incubation will become the norm sooner rather than later.”
The digitised real estate investment ecosystem LABS was established three years ago by a team of Blockchain and real estate professionals with the aim to democratize access to global property investment. In 2020 LABS integrated with RioDeFi so as to enable the various incentive mechanisms provided by its platform. Earlier this month, LABS completed its $6 million private round of fundraising and raised an additional $2 million through the issuance of its NFT membership card program.
For Yuen Wong, CEO at LABS, “The digitization of Real Estate assets is of tremendous importance for the global economy. We, at LABS, have set for ourselves some very ambitious goals and seek to provide the most robust legal, technical and business infrastructures to our partners and customers. Upon reviewing the blockchain technology landscape we decided to build our platform on RioChain. Their interoperable blockchain allows us to scale. It is a perfect gateway to DeFi services and can best support our innovative and inclusive economic model.”
The latest addition to RioDeFi incubation hub is Lepricon, a decentralised autonomous organization that applies the principles of DeFi to the gaming industry so as to enhance user experience and engagement. Lepricon recently received $3.7 million in investments from venture capital firms and private investors. RioDeFi’s technology is especially suited to support the high transaction throughput required by such applications.
For Lepricon’s COO Stephen Browne: “Joining RioDeFi represents a tremendous opportunity to access a vibrant ecosystem of industry experts, investors and merchant partners, as well as a global community of blockchain enthusiasts. The support provided by the RioDeFi team is invaluable at both the business and technical levels.
By working with RioDeFi these projects can benefit from the company’s technical, legal and commercial expertise, and receive the support of a network of notable local and global venture capitalists and investors. Incubated projects will also receive end-to-end support with payments, processes, and exchange operations, guidance on legal frameworks, sustainable token model development, and KYC requirements.
RioDeFi’s integrated approach of incubation also creates a network effect between these projects and enhances their respective accessibility, sustainability, and transparency. By doing so RioDeFi ultimately aims at raising the bar of industry standards.
In the words of James Anderson, CEO at RioDeFi “It’s been less than a year since DeFi truly gained traction and only a few months since NFTs have stepped into the limelight. Traditional finance is attempting to merge with these new and exciting technologies, but the industry is suffering from a lack of insights on regulation and user protection. Our goal with our incubator program is to help legitimize projects from beginning to end, enabling DeFi to safely bridge with mainstream finance,”
With its next batch of projects set to be announced in April, RioDeFi will bring the merits of decentralised finance to a variety of industries, including the loyalty program sector, as well as integrate NFT art with gamified DeFi platforms.
RioDeFi provides an ecosystem of financial products bridging traditional and decentralized finance via interoperable blockchain solutions. RioDeFi’s applications create a gateway to more accessible financial services with lower transaction fees, fast confirmation times and a global reach.