Share this article
DeFi Credit Protocol Concordia Raises $4M in Round Led by Tribe, Kraken Ventures
Concordia, now live in public testnet on Aptos, offers a multi-chain risk and collateral management platform for digital assets.
By Brandy Betz
Updated Jun 16, 2023, 5:24 p.m. Published Jun 16, 2023, 4:21 p.m.
Concordia, a multi-chain risk and collateral management protocol for digital assets, has raised $4 million in a seed funding round co-led by Tribe Capital and Kraken Ventures, with Cypher Capital and Saison Capital among the other participants.
The fundraise follows the protocol's public testnet launch on Aptos earlier this month. The mainnet launch is expected to follow within the next several months, and Concordia will concurrently launch on additional chains.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Since the so-called “DeFi Summer” of 2020, decentralized finance has grown increasingly fragmented, making it difficult for users to transfer assets or access liquidity between blockchains. Cross-chain bridges can help with this problem, but are also a hotbed of security risks. Streamlining the process, reducing the risks and introducing compliance could bring more decentralized and traditional finance (TradFi) players into the space.
Concordia wants to make it easier for users to access and manage cross-chain liquidity and collateral. The protocol also offers users a simpler way to manage the collateral used for margin trading, a method of using borrowed money to buy or sell assets for a potential profit. Concordia users can manage that collateral from a single account and transfer assets from multiple blockchains without the need for wrapped tokens or bridges. The underlying application programming interface (API) architecture is modular – institutional investors, for example, could pick and choose what features they want to use. Developers who want to build using Concordia have access to the protocol’s shared pools of liquidity.
"We're on a path to integrate across DeFi and TradFi," said Thomas Ruble, chief technology officer of Concordia, in a statement. "To move real assets at the speed of frictionless blockchains is the goal everyone wants. Just as Main Street and Wall Street both enjoy the same World Wide Web, they have an equal interest in one global financial fabric."
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Coinbase agrees to buy The Clearing Company to deepen prediction markets push
The deal brings a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
What to know:
- Coinbase is acquiring The Clearing Company, a startup with experience in prediction markets, to help grow its newly introduced platform.
- The deal brings in a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
- The acquisition is part of Coinbase's plan to become an "Everything Exchange", offering a wide range of trading options, including novel cryptocurrencies, perpetual futures contracts, stocks, and prediction markets.
Top Stories
