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Cardano Investing $100 Million to Fund DeFi

Emurgo is the financial arm of the leading cryptocurrency project Cardano. It has announced that it will invest $100 million in decentralized finance-based products. The company will create two subsidiaries to encourage the creation of African-based startups using Cardano’s Blockchain in their product development.

Cardano Supports Infrastructure with $100 Million

Emurgo, Cardano’s financial arm, will jumpstart production and development of Cardano-related products. It will provide $100 million in investment capital to two investment vehicles. However, each subsidiary will be able to contribute to Cardano’s expansion.

Emurgo Ventures is the first to offer seed funding for companies that incorporate Cardano into product development. These products could include NFT platform or decentralized finance (defi) platforms.

Ken Kodama CEO Emurgo stated that this was true.

Cardano is more focused than ever to accelerate its development with a rich mixture of decentralized services catering for a global community that’s increasing their awareness of blockchain.

Africa at the Forefront

Cardano’s representatives share one goal. Cardano’s representatives have one goal.

Emurgo created Emurgo Africa as its second subsidiary. Statements indicate that this funding will prioritize projects using Cardano to offer socially-impactful projects over all others.

All these solutions aim to create an open, decentralized financial system that uses the smart contract features the chain introduced earlier in the month with the Alonzo hardfork.