Spartan Group has led a multi-million dollar seed funding round in CLST, an institutional-only lending and borrowing venue for stablecoins and other cryptocurrency assets.
Spartan Group has led a multi-million dollar seed funding round in CLST, an institutional-only lending and borrowing venue for stablecoins and other cryptocurrency assets.
Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, a subsidiary of Digital Currency Group, and TX Ventures, the VC investment arm of TX Group. Also particpated in the round.
A one-stop-shop for peer-to-peer lending and borrowing, CLST attracts digital asset lenders and borrowers such as hedge funds, trading firms, treasuries, asset managers, and crypto banks seeking automated digital asset collateral management features.
Capitalising on the recent immaturity of the crypto debt market which led to the financial distresses of market leaders, CLST is effectively automating bilateral price negotiation and settlement for the unsecured and collateralised short-term debt market. With a large number of institutions participating in the network after soft launching in early 2022, CLST is going live with a wide market version of the application later this year.
