Launched by team of Terra's Anchor, ambitfinance secures $4.5 million from BinanceLabs Anchor
Tyler Z., Investment Director at Binance, highlights that Ambit Finance's concept looks innovative for BNB Chain's DeFi community:
We believe this strategic investment to be an opportunity to introduce an advanced lending protocol to the BNB Chain community. We hope that Ambit Finance can bring mass adoption of DeFi, and that users on BNB Chain will be able to enjoy multiple tailored approaches to advanced lending and risk controlAmbit Finance will be focused on building an instrument for yield generation based on Binance USD , a U.S.-regulated Binance stablecoin.
Co-founder and CEO of Ambit Finance, Sphere CM, is excited about the prospects this funding round opens for his project: The Ambit team has unprecedented experience in scaling mass-adoption protocols. The product will leverage lessons learned over the past year and make security and sustainability its governing principles.
Building a DeFi super app with collateralized lending, under-collateralized margin lending and structured products for financial institutions is the endgame purpose of the collaboration between Ambit Finance and Binance Labs.
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