ContributionDAO Raises $2.8 Million To Advance Staking Across SEA Region

Web 3 staking platform, ContributionDAO has successfully completed a $2.8 million seed funding raise led by KASIKORN X Venture Capital (KXVC) firm, the VC arm of Thailand’s largest commercial bank, KasikornBank (KBANK). The latest funding aims to extend development in the staking space as well as help further the development of community management tools. Finally, part of the capital will be used to expand the market share of ContributionDAO in the SouthEast Asia blockchain space and staking market.

Adding to KASIKORN X VC, the seed funding round also welcomed several top Web 3 firms and angel investors from already established blockchain firms, including participation from Axelar, Monad, Connext, and other angel investors.

Speaking on the seed funding raise, Jom Vimolnoht, Managing Director, KXVC, named ContributionDAO as a key strategic partner for the Thailand bank, especially in its efforts to enter the ‘blockchain space.

“With their [ContributionDAO’s] proven capabilities and the key results of contributing to various global projects, we are excited to work with ContributionDAO to support them in the journey of creating new cutting-edge staking solutions, and community management tools that bridge global to local Southeast Asia market,” Vimolnoht added.

Exploring Web3 staking developments in the SEA region

As alluded to, the capital raise will be used to develop new and exciting institutional-grade staking solutions, across the South East Asia region. This is expected to enhance the adoption of ContributionDAO’s solutions across the region and help support the budding ContributionDAO global community.

Crucially, the funding will help expand the adoption of non-custodial, institutional-grade staking services across the SEA region and provide a secure, regulatory-compliant and innovative platform for all their clients’ growing staking demands. Notwithstanding, ContributionDAO will also launch liquid staking for their accredited investors, allowing them to retain flexib

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Author: CryptoDaily

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