Canadian Fintech company Coinchange has raised $10 million in a Series B funding round to expand its Yield as a Service product to new companies.
The round was co-led by Good News Ventures, G1.VC, Spirit Blockchain, K2.CA and Atoia Ventures, with participation from Mintfox. A valuation was not disclosed for the round.
Founded in 2018, Coinchange allows companies – such as FinTechs and exchanges – to offer DeFi yield services to their users without the need of implementing complex DeFi protocols and yield strategies.
The company’s ‘Earn API’ gives businesses a way to trade and access yields on digital assets, including BTC, ETH, and major stablecoins.
Doing so gives companies the ability to acquire new customers, increase revenue, and improve retention.