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Coinbase Ventures backing DeFi in the Polkadot ecosystem
Coinbase Ventures, the investment arm of the San Francisco-based digital currency exchange, has thrown its weight behind a layer-one blockchain designed to bring full-service DeFi to the Polkadot ecosystem.
The investments are focused on Acala, the Virtual Machine-compatible blockchain that is building a host of DeFi capabilities on Polkadot, as well as Karura, which is building a DeFi ecosystem on Kusama. Acala has already built four core products for the Polkadot ecosystem: Liquid DOT staking, a stablecoin, an automated market maker decentralized exchange and a sovereign wealth fund.
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