Creditcoin has secured an investment from DWF Labs to help accelerate Creditcoin’s global adoption & unlock new opportunities for cross-chain credit interoperability.
Creditcoin, an interoperable public credit bureau built on a public blockchain, has secured an investment from international Web3 investment firm, DWF Labs. The investment will help accelerate Creditcoin’s global adoption by various financial institutions and protocols that are seeking to build the future of credit on-chain through DWF’s existing ecosystem of investment partners.
The Creditcoin Network, built on Substrate, functions as a universal, multi-chain, credit bureau, solving the problem of credit underfunding in emerging markets. By integrating directly with various fintech lenders to create verifiable credit performance on-chain through the Credal API, the protocol aims to unlock highly liquid crypto-based capital financing, and in the future, enable a new generation of interoperable cross-chain credit markets across Web3.
The investment by DWF Labs, a multi-stage Web3 investment firm with over 100 venture deals, including DAO Maker, BIT DAO, MAP protocol, and many more, is part of their long-term strategy targeting Web3 use cases with extensive real-world adoption. For instance, the Creditcoin protocol recorded over 3 million transactions since launch, collectively worth over $70M USD.
“We are proud to invest in Creditcoin and support their vision of building an interoperable public credit bureau on a public blockchain.” said Andrei Grachev, Managing Partner at DWF Labs. “Creditcoin is at the forefront of innovation in the credit industry, and their team has the expertise and passion to bring this vision to life. Our investment will help accelerate Creditcoin’s global adoption. We believe that Creditcoin will play a critical role in shaping the future of credit and finance, and we are excited to be a part of this journey.”
Designed around interoperability, the Creditcoin Network supports loan transactions on Bitcoin, Ethereum, and Luniverse (an Ethereum L2), with integration partnerships sealed with a variety of L1s, including Polygon, Tron, Stacks, and Flow. With these integrations and partnerships, it ensures that users can transact and carry their loan activities across multiple chains in Web3. Given DWF Lab’s wide pool of existing partners, both teams are exploring collaboration opportunities and new interoperability features together.
Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets. By working with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history and facilitating trust for millions of underserved financial customers and businesses based on the principles of Real World Assets (RWAs).
About DWF Labs
DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.
With offices in Singapore, Switzerland, the UAE, South Korea and BVI, DWF Labs is part of the parent firm Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high-frequency trading.