According to Financemagnates, on January 13, Atomic, an Israeli blockchain startup and decentralized collateral management platform, announced that it had raised $ 2.5 million in a seed round of financing led by Hexa Group.
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The Tel Aviv-based startup is developing a multi-chain decentralized collateral management solution that can serve as the foundation layer for other digital financial solutions such as P2P transactions, cryptocurrency payments and cryptocurrency loans.
Commenting on the company's goals, Atomic founder and CEO Amit Green said:
Collateral-backed transactions have created immediate trust and have been around for thousands of years. Blockchain technology allows us to eliminate escrow intermediaries and thus advance the development of secured transactions.
Introducing P2P in cryptocurrency lending
The company's 10-person team launched the P2P guarantee technology for the first time. Its project is called Atlantis, which will allow users to buy and sell digital currencies between different blockchains.
The announcement also explained that the platform requires users to lock some funds in the wallet as collateral to support transactions and debt, but these locked funds will not be transferred from the crypto wallet or passed to middlemen. This will eliminate concerns about the security of third-party platforms.
In today's world, when you want a loan, you need to go to a bank, get approval, and use your house or other valuable things as collateral.
If many physical assets are represented in digital form, such as real estate tokens, asset / security tokens, etc., it only takes a few seconds to transfer this long and tedious process to the digital world. For example, when you loan to buy a new car, it only takes a few seconds to lock a small portion of your investment portfolio as collateral without the need for a bank. In addition, the company is committed to small payments through instant confirmation to reach a wide range of merchants.