Crypto startup Bonded raises US$2.25M
The story: Singapore- and Australia-based Bonded, a fintech platform that deploys Decentralised Finance (DeFi) financial instruments which endeavour to leverage dormant capital, has closed US$2.25 million in its first round of funding.
Investors: AAM, Spark Digital Capital, Blackedge, and Rarestone Capital.
About Bonded: Bonded Finance is a blockchain-based platform dedicated to creating and supporting innovative financial products made possible only by decentralised technology.
Currently, the overwhelming majority of crypto lending is transacted with BTC, ETH, and stablecoins. Bonded has identified nearly US$50 billion locked up in altcoins that remain unserved and is creating an array of financial instruments to access these virtually stranded assets so users may lend altcoins, access lines of credit, as well as bundle assets and participate in risk mitigated indices.
Bonded’s contributors include a mix of venture funds, blockchain entrepreneurs, and prominent crypto community leaders.
Vinasun lays off employees after reporting first loss in 12 years
The story: Vietnam’s online taxi booking company Vinasun has let go of 1,300 employees to cut costs in a recent restructuring attempt, according to Vnexpress.
The story comes after the company posted its first annual loss in 12 years due to the pandemic impact.
Also Read: Compassionate layoff; Airbnb shows the way
More about the story: The management told the publication that “they expect the recovery process to be slow due to a lack of foreign visitors. After Vietnam closed its borders and stopped international flights in March,”.
Adzymic expands into Thailand, Japan and Hong Kong
The story: Singapore-based adtech company Adzymic has expanded into Thailand, Japan and Hong Kong, according to a press statement. The news comes after the company’s recent expansion in India earlier this year.
More about the story: Along with the official expansion, the adtech company has named Spikebrand as its agency partner for Thailand; Maadtech Global for Thailand and Hong Kong; and Atlas Associates for Japan.
Some of the brands it has worked with include DBS, Harvey Norman, Daimler, Pan Pacific, Sony Pictures, Toyota and Esplanade Singapore.
About Adzymic: It is a platform that helps advertisers and agencies transform display advertising into personalised content ads like digital banners, carousel ads, social display, and more vertical videos without the need for design and coding expertise.
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