Trading platform Structure has secured $20 million in financing at an approximately $150 million valuation. The funding included a seed round led by Polychain Capital and proceeds from a sale of Structure’s STXR token. The funds will help Structure develop and introduce its mobile platform early next year.
Launched earlier this year, Structure aims to make decentralized finance (DeFi) and crypto investments more mainstream through an easy-to-use, mobile-first platform. Clients will be able to make zero-commission investments in tokenized stocks and exchange-traded funds (ETFs), options and cryptocurrencies, the company said in a statement. They will also be able to trade between assets within a single transaction and receive payments in their choice of tokens. The platform will eventually allow clients to earn, borrow and lend.
“We believe strongly that the promise of DeFi is not reserved for the few and we look forward to helping the team at Structure to bridge that gap,” Polychain CEO Olaf Carlson-Wee said in the statement.
Structure plans to offer the Structure app on an invitation-only basis in early 2022 with a broader introduction to follow within a few months.