Smart currency protocol Umoja completes US$4 million in seed round financing, with participation from Coinbase and others

ChainCatcher news, according to Cointelegraph, smart currency protocol Umoja completed raising $2 million in a seed financing extension, bringing its total seed round financing to $4 million. Participants in this seed round include Coinbase, 500 Global, Quantstamp, Blockchain Founders Fund, Orange DAO, Hyperithm, Psalion and Avalanche’s Blizzard Fund.

It is reported that the company was founded by Robby Greenfield, the former head of social impact business at ConsenSys. It aims to help users insure their market losses like a hedge fund to ensure their financial health, and introduce asset risk management in the DeFi field. In the future, the company It plans to expand its decentralized hedging model to more digital asset fields such as digital bonds, real estate and commodities.