Alkemi Network Launches Out of Stealth to Bridge CeFi to DeFi

TORONTO, April 27, 2021 /PRNewswire/ - Alkemi Network is launching out of stealth as the world's first decentralized liquidity network to offer institutional DeFi. After closing a $4.6 million investment round with over $5 million of liquidity deposits seeded to the network, Alkemi is live on mainnet. The flagship borrowing and lending protocol, Alkemi Earn, provides centralized financial counterparties with compliant, turnkey access to DeFi.

Over the past 6 months, Alkemi has prioritized product, network reach and community buildout, whilst closing a growth round and onboarding 25 liquidity providers.

"We wanted to make our market debut in a revenue-generating state with a protocol live on mainnet." said Ryan Breen, the network's Founder and CEO.

Featuring an industry A-list of adopters including: LedgerPrime, Radar Relay, JST Capital, Shift Markets, Teller Finance, Quantstamp, Kronos Research, Fractal, Autonomy Capital, and Validation Capital, Alkemi Network is becoming the portal to the on-chain capital world whilst scaling out to the broader DeFi universe.

"Alkemi represents an ongoing transition between open finance and DeFi today. The nature of money in the future will simultaneously be institutionalized and decentralized. Our investment in Alkemi is a bet on this future. The team's prior institutional experiences combined with their understanding of DeFi is part of why we have invested in them. Over the past few months, LedgerPrime has been actively involved in setting up early pools. We look forward to being active governance participants in the network" - Shiliang Tang, Ledger Prime

The company is backed by industry leading investors including Outlier Ventures, Techstars, ConsenSys Mesh, LedgerPrime, GSR, GBV Capital, a195 Capital, Asymmetries Funds, Shift Markets, Genblock Capital, and Autonomy Capital as well as strategic angels Joyce Yang of GCR, Jeremy Drane of Nifty's, Quantstamp CEO Richard Ma, Ivan Brightly Former CISO Galaxy Digital, Justin Amos CEO of Lygon, Duke Kim, and Hashgraph founder, Jordan Fried.

"Nailing product market fit has been our priority. Before opening the liquidity floodgates, it was paramount we launched with a use case that would drive immediate value for our ecosystem stakeholders. It's time to lift the network veil." - said Brian Mahoney, CSO and Co-Founder of Alkemi Network.

"DeFi meets KYC is a killer cocktail for institutions. This is a monster opportunity and we're excited to be onboard." - Carson Cook, Fractal.

About Alkemi Network

Alkemi Network is bridging CeFi to DeFi, building an on-chain liquidity network with a suite of tools and products that serve as onramps for everyone to participate in decentralized finance. The flagship protocol, Alkemi Earn (Earn), facilitates institution-grade borrowing and lending within a compliant environment via Alkemi's primary 'permissioned' liquidity pool of digital assets (ETH, wBTC and stablecoins). Earn will also offer access to Alkemi's secondary 'permissionless' liquidity pool of digital assets at the network's Token Generation Event.

To find out more about how your organization can use Alkemi Network, please visit us at https://alkemi.network/ or follow updates on Alkemi Network's official Telegram channel.

SOURCE Alkemi AI Inc.

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