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TrustToken Raised $12.5 Million In Financing From Blocktower Capital, A16z And Alameda Research
Summary: TrustToken, The operator of DeFi lending agreement TrueFi and the stablecoin TUSD, has raised $12.5 million in financing. Blocktower Capital, Andreessen Horowitz (a16z), and Alameda Research led the round through the purchase of TrueFi's native token TRU. Rafael Cosman, co-founder and CEO of TrustToken, told CoinDesk: "We’re looking to use this funding both to help ...
TrustToken, The operator of DeFi lending agreement TrueFi and the stablecoin TUSD, has raised $12.5 million in financing.
Blocktower Capital, Andreessen Horowitz (a16z), and Alameda Research led the round through the purchase of TrueFi's native token TRU.
Rafael Cosman, co-founder and CEO of TrustToken, told CoinDesk: "We’re looking to use this funding both to help us scale the protocol, size of that existing market, but also help us to branch into new markets."
TrueFi makes loan decisions based on credit scores from on-chain and off-chain data. According to the company, since November 2020, the team has issued more than $200 million in loans and paid out $1.7 million to lenders without any defaults.
By Mary Liu
Tags: a16z,Alameda Research,BlockTower Capital,TrustToken
Link: TrustToken Raised $12.5 Million In Financing From Blocktower Capital, A16z And Alameda Research [Copy]
