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IntoTheBlock and Trident, two digital asset segment innovators, announced a strategic merger to kick off Sentora, a new-gen decentralized finance (DeFi) platform for institutions. A special $25 million funding round is set to give the new venture a proper start.
Sentora kicks off with $25 million backing, as IntoTheBlock joins Trident in merger
According to the official statement by IntoTheBlock, a leader in DeFi solutions for institutional customers and Trident Digital, a major financial services firm, the two initiated a strategic merger into Sentora, a brand-new yield machine tailored to the needs of institutional clients.
The new product is set to offer an industry-leading toolset of yield strategies, risk management and financial services.
At launch, Sentora is finalizing a $25 million Series A round of funding led by New Form Capital, with backing from Joint Effects and Tribe Capital. Strategic ecosystem investors, including Ripple, Curved Ventures, Flare and Bankai Ventures also supported Sentora in its fundraising efforts.
Anthony DeMartino, cofounder of Trident Digital and CEO at Sentora, shares his ambitions regarding the target audience and scale of the new venture:
At Sentora, we believe that DeFi is the future of finance, but that future must be built with the needs of institutions in mind. Through our strategic partnerships with industry leaders we are developing a suite of products that address the key blockers preventing institutional adoption of DeFi.
Sentora combines IntoTheBlock’s battle-tested yield and risk management platform with Trident’s structured finance expertise, creating a multi-product offering for institutions of all sizes, in both crypto and traditional finance, to interact with DeFi.
More financial primitives for institutions in DeFi
Jesus Rodríguez, cofounder of IntoTheBlock and CTO at Sentora, is certain that the new product will be of paramount importance to the next stage of DeFi disruption:
Both IntoTheBlock and Trident share that institutional DeFi will be a key pillar of future financial systems. Sentora is our way to play a role in that future.
Sentora’s capabilities include yield strategies, capital formation, risk monitoring, structured financing and many others. Sentora’s vision is to work on the hardest problems to unlock the potential of institutional DeFi.
The merger brings together over $3 billion in historical DeFi institutional deployments in the IntoTheBlock Institutional DeFi platform and major liquidity programs structured by Trident for major crypto ecosystems. With that solid foundation, Sentora plans to rapidly expand, building new financial primitives for institutional DeFi solutions.
Sentora will be laser-focused on making the most lucrative and modern DeFi opportunities secure and compliant even for the most conservative clients of the institutional sphere. This approach is set to offset the gap between Web2 capital and Web3 technology and economic designs.
With Series A funding secured from a clutch of blue-chip VCs, Sentora will accelerate its technology roadmap, expand the global partnerships network and continue developing solutions that address the growing complexities of institutional DeFi. By leveraging diverse expertise across finance, technology, DeFi and risk management, Sentora aims to set new standards for institutional access to DeFi.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team