Volta Secures $4.1 Million in Seed Funding to Develop Institutional Crypto Platform
Hongji Feng
Last updated: May 3, 2024 08:00 EDT
| 1 min read
Volta, a company aiming to create a crypto platform specifically for institutional investors, has successfully raised $4.1 million in seed funding. This round of funding was led by Fika Ventures and Haven Ventures, with participation from Soma Capital, Dispersion Capital, and Uphonest Capital.
Volta Circuit’s Comprehensive Features
The investment will be used to support the development of Volta Circuit, a multi-signature, non-custodial platform that prioritizes speed, security, and compliance for its users. To address scalability, security, and performance concerns, the platform plans to integrate smart contract wallets that enforce governance and policy controls directly on the blockchain.
The architecture of the platform allows for expansion through a multi-signature wallet, enabling authorized, single-signature transactions. This feature allows traders to execute and manage transactions quickly, ensuring direct control and ownership of assets without relying on third-party key management.
Additionally, Volta Circuit supports open signature standards, making it compatible with any wallet. This interoperability enhances wallet configuration flexibility by allowing customization and permission settings.
George Melika, co-founder and CEO of Volta, stated, “Volta Circuit is the new standard for a straightforward and secure way to work with digital assets. We are addressing the key concerns of investors by prioritizing security, speed, and full ownership.”
Melika added, “Volta Circuit is the only solution that provides institutions with direct control over a fast, secure, scalable, and customizable infrastructure for building and expanding digital asset businesses and trading operations without the limitations or costs of a centralized platform.”
Growing DeFi Market and Institutional Demand
The press release also mentioned that the decentralized finance (DeFi) market is projected to reach $446 billion by 2030, with on-chain tokenization market capitalization expected to reach $16 trillion.
However, despite these positive forecasts, institutional investors still have concerns regarding the security, transfer, and management of digital assets.
“The finance industry is experiencing a shift towards digitizing real-world assets and adopting decentralized architectures, which is prompting traditional institutions to seek greater control over their assets,” said McLain Southworth, co-founder of Haven Ventures.
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