Maven 11 Capital is thrilled to announce our participation in the seed round of Qredo. Qredo is a cross-chain asset protocol that utilizes Multiparty Computation (MPC). In doing so, it will enable decentralized digital asset management. This will perfectly set up Qredo to capture both, the billion dollar cross-chain market, the custody solutions market and allow institutions safe access into DeFi.
Their product offering is two folded but intertwined. The first element to provide the best security is the MPC, which essentially removes the need for private keys while signing a transaction, a notorious point of weakness for the users. The second element is the cross-chain asset protocol. Qredo achieves this by offering their own blockchain that keeps track of what assets are stored on which blockchain. This feature introduces unparalleled speed, transparency, and security.
“The next generation of DeFi players will be institutions and these companies are actively looking for ways to enter the crypto market in a secure and compliant manner without sacrificing their ability to respond to economic opportunities” - Anthony Foy, CEO Qredo
The Qredo solution is built by a senior team with a ton of experience in commercial cryptography products. Over time, the protocol will transition into a full fledged DAO while the team will continue to offer services to onboard more TradFi entities onto Qredo and integrate with the largest crypto exchanges in the world.
“Qredo tackles one of the big hurdles for adoption, key management. Their MPC takes away the hussle of the key management and makes it the most secure and reliable solution on the market. We also believe that their shift towards a decentralized network, governed by a DAO, makes it the perfect fit for our industry which highly values decentralization.” - Balder Bomans, Partner Maven 11 Capital
We look forward to supporting Qredo in their mission of making safe, decentralized, institutional grade digital asset management a reality. In doing so, we will bridge the gap between the TradFi industry and the rapidly evolving innovative DeFi industry even further. For further updates follow Qredo on Twitter or become part of their community in the Discord server.