ParaSwap has raised € 2.3 million in seed funding from a total of 32 investors.
The French project is an aggregator of decentralized exchanges (DEX)
ParaSwap is a decentralized exchange that solves the liquidity issue in the cryptocurrency markets. It is an aggregator of several decentralized exchanges . It can be seen as Kayak or the decentralized finance booking.com.
ParaSwap is based in France and hopes that its API will become the glue between the different applications of DeFi. Mounir Benchemled , Founder of ParaSwap, said:
The API not only allows access to decentralized exchanges (DEX), but also to other DeFi services such as Aave and Compound.
ParaSwap raises € 2.3 million
According to a press release released Thursday, ParaSwap has raised € 2.3 million in seed from a total of 32 investors, including Blockchain Capital, Alameda Research, Arrington XRP Capital, Coinfund, CoinGecko, Stani Kulechov, founder of Aave, and others. We can regret that no French investor is participating in this round table.
Although ParaSwap started out as a DEX aggregator, Mr. Benchemled said the company focused in late 2019 on improving its pricing API service. The goal is to make the platform an easy to use entry point for DeFi applications and traders.
The next steps will be to expand the team and evolve ParaSwap’s infrastructure to meet the challenges of the decentralized finance craze.