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Singapore, Singapore, July 20, 2022, Chainwire
Blue Jay FinanceZee Prime Capital, C2 Ventures, Stake Capital Group, RNR Capital, Daedalus Angels, Moonlanding Ventures, Oval There are operator angels including Ventures and also DeFi projects such as Ribbon Finance, Flux, Voltz and AlphaVentureDao.
Founded in 2021, Bluejay Finance aims to give investors access to a more stable coin solution centered on currencies other than the US dollar in DeFi spaces. Focusing on Asian stablecoins such as Singapore dollars and Philippine pesos, we will use funds for team development and stablecoin deployment through partners such as DeFi protocol, decentralized exchanges, centralized exchanges, fintech companies, etc. I plan to distribute it. By doing so, investors can have a more comprehensive and locally familiar medium of exchange that limits forex risk and fees.
With 60% of Southeast Asians lacking a bank or no bank account and 70% of the Southeast Asian workforce lacking a bank account, it is clear that financial inclusion should be prioritized. In many cases, there is a lack of formal credit history that impedes access to MSME’s capital, and there is generally a lack of urgency and awareness of owning a personal savings account.
Fortunately, Asia has had a recent opportunity thanks to the strong mobile adoption of the region, which promotes a variety of financial services and payment gateways for both individuals and businesses.
Stablecoin can play a meaningful role in the future of Asian financial services. However, most Stablecoin solutions are centered around the US dollar and are not suitable for actual use where the transaction is denominated in the local currency. This means that users cannot choose to be exposed to currencies other than the US dollar in their DeFi space. This exposes users to extra costs and forces them to use unfamiliar currencies.
Bluejay Finance puts stablecoins from various currencies around the world on the blockchain to lower barriers for companies and individuals in these countries to trade, minimize currency risk, and pay and pay. Makes access to capital easier and more efficient.
“The DeFi summer was the first wave of innovation driven by high-yielding agriculture. Despite current market conditions, the next cycle is a sustainable real use case that solves real needs. It is very bullish to be driven by. Therefore, Bluejay will continue to focus on building products and partnerships that enable these sustainable use cases for stablecoin and attract the next billion users to DeFi. “We do,” said Sherry Jiang, founder of Bluejay Finance.
Julien Boutelloup, founder of the Stake Capital Group, commented: However, most stablecoins are centered around the US dollar. For cryptocurrencies to diverge into use cases such as real-world payments and money markets, stablecoins such as the euro and Singapore dollars that people in the local economy can trade seamlessly are needed. Bluejay is in a position to meet this need. This need will continue to grow as DeFi matures. “
Recently, Bluejay Finance has announced a partnership with Silta Finance, a protocol focused on sustainable real-world assets, and will announce more partnerships in the coming weeks in both the Twitter and Discord communities.
Bluejay Finance is building an Asia-focused, capital-efficient protocol for multi-currency stablecoin. The aim is to mirror the Fiat world forex market to the blockchain to accelerate financial inclusion and access to DeFi for all users and businesses. Pre-seed investors include Entrepreneur First and Global Founders Capital.
Jeff Richards, [emailprotected]
