Blockchain Startup Tendermint Invests In Tgrade To Bolster Cosmos’ Growing DeFi Ecosystem

California-based startup Tendermint has announced their strategic investment in blockchain framework Tgrade.

Tendermint is a software development company contracted by the Interchain Foundation to develop the Cosmos Network. The company builds critical infrastructure for open networks, like the Cosmos SDK, Tendermint Core, and Gaia. According to its website, Tendermnt claims over $6 billion in digital assets secured by its blockchain.

Developed by Confio, Tgrade is a blockchain framework focused on regulated decentralized finance (DeFi). According to Confio, its long-term mission with the development of Tgrade is to develop new financial instruments with smart contracts, bringing liquidity from traditional finance and regulated markets through governance and regulatory frameworks into the DeFi world.

“The rise of DeFi will shape the future of finance through programmable financial instruments and peer to peer trading,” said Martin Worner, COO and VP of Product at Confio. “The size of traditional markets of trillions in volume dwarf the nascent DeFi markets and the biggest barrier is the lack of regulatory frameworks in public chains for regulated institutions to take part. Tgrade has the regulated markets as a focus and a clear path of how to embrace regulations. We are honoured that Tendermint has backed Tgrade and believes in the vision that is being delivered by a trusted and experienced team. We are dogmatic in our vision of bringing decentralized finance from ‘trustless’ to ’trustworthy’, and this funding will secure our path to launching Tgrade.”

Tendermint said that the Tgrade investment symbolizes a growing partnership between Tendermint and Confio, applying the power of CosmWasm to bring about powerful DeFi use cases and showcasing what is possible to Cosmos and the wider cryptocurrency ecosystem.

“We’re excited to help launch Tgrade, a core element of the Cosmos DeFi ecosystem,” said Peng Zhong, CEO of Tendermint. “The Confio team has a stellar track record of delivering on expectations, and we’re confident that a permissionless Wasm smart contract environment will greatly increase the value of the ecosystem. Tendermint is in the business of supporting the development of sustainable blockchains, and we’re looking forward to seeing the growth of Cosmos evolve with the launch of Tgrade.”

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