The Good Tech Companies - Draper Associates Backs Torram to Propel Decentralized Finance on Bitcoin

Starting point is 00:00:00 This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Draper Associates backs Torum to propel decentralized finance on Bitcoin. By Torum Labs, Greater Than, Toronto, Canada, November 14, 2024 Torum, pioneering institutional grade greater than decentralized finance, DeFi, infrastructure on Bitcoin, today announced a greater-than-strategic investment from Draper Associates, the venture firm led by legendary greater-than-crypto investor Tim Draper. Selected from over 200 applicants for the highly greater-than-exclusive Bitcoin FI Accelerator, Torum is now better positioned to capture greater-than-the-rapidly-expanding institutional

Starting point is 00:00:40 DeFi market as Bitcoin emerges as the greater-than-leading blockchain for traditional finance. The investment, led by Draper Associates with participation from BoostVC and Thesis, comes as institutional demand for Bitcoin-native DeFi solution surges, with the DeFi market set to soar to $50 billion by 2025. Taram's institutional-grade infrastructure enables banks, asset managers, and financial institutions to tap into Bitcoin's security and $880 billion market cap through compliant DeFi solutions. Greater than? We believe in Bitcoin and there's now a gravitational pull towards Bitcoin, greater than said Tim Draper, founder of Draper Associates. It's a critical time in global greater-than history, and we're excited about these

Starting point is 00:01:24 applications that are being built on greater-than-the-most-important blockchain. Torum emerged as one of the top performers from Bitcoin startup Labs' Per Accelerator program and has now earned one of only eight spots in Bitcoin Fee Accelerator's inaugural cohort. The exclusive six-week program, backed by leading Bitcoin investors, provides $150,000 in initial funding alongside technical resources and strategic partnerships essential for scaling Bitcoin-native applications. Greater than. Securing backing from visionaries like Tim Draper and Adam Draper validates greater

Starting point is 00:01:56 than our approach to bridging traditional finance, TradFi, with Bitcoin's powerful greater-than capabilities, said Vikesan Mahalingam, CEO of Torum. Their strategic greater-than guidance and deep network in both TradFi and crypto will be instrumental as we greater-than roll out our institutional DeFi infrastructure. Torum's technology stack includes an institutional-grade decentralized Oracle network. Advanced on-chain data indexing for real-time analytics. Proprietary security framework meeting institutional compliance requirements. Cross-chain infrastructure enabling seamless integration with existing systems.

Starting point is 00:02:32 The company will launch its testnet in Q1 2025, with leading asset managers already committed to pilot programs. Early access to the testnet is in high demand and is limited to qualified institutions and partners. For early investment opportunities or to learn more about how Torum is positioning itself to lead the Bitcoin DeFi revolution, visit torum.zi. About Torum Torum is building the foundational infrastructure that enables institutional-grade DeFi and real-world asset tokenization natively on Bitcoin. Torum empowers financial institutions to leverage Bitcoin's unmatched security, transparency, and $880 billion of global

Starting point is 00:03:11 liquidity through its decentralized oracle network, on-chain data indexing, and institutional-grade solutions. Early-stage investors include Draper Associates Blockchain Founders Fund Boost VC Side Door Ventures Deep Ventures Silvermine Capital MH Ventures Bitcoin Startup Lab Info This press release contains forward-looking statements, including statements regarding Torum's plans, objectives, and future business operations. These forward-looking statements are based on the company's current expectations, beliefs, and projections, and are subject to inherent risks and uncertainties.

Starting point is 00:03:45 Actual results may differ materially from those expressed or implied by these statements due to various factors, including market conditions, regulatory changes, technological challenges, and competition. The information in this release is not intended to constitute legal, financial, or investment advice. Readers should conduct their own research and consult with professional advisors before making any investment decisions or entering into any agreements. TORUM does not guarantee any specific outcomes or returns on investment. TORUM does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by

Starting point is 00:04:24 applicable law. All trademarks and registered trademarks are a the property of their respective owners. Thank you for listening to this Hackernoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.

The Good Tech Companies - Draper Associates Backs Torram to Propel Decentralized Finance on Bitcoin

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