Wemade Makes Strategic Investment in Short-Term Financial Trading Platform CLST

[Asia Economy Reporter Kang Nahum] Wemade announced on the 5th that it has made a strategic seed investment in CLST, a short-term money markets platform for institutions participating in the virtual asset financial market.

CLST, located in Switzerland, has already obtained approval from Swiss regulatory authorities for brokering short-term financial transactions involving cryptocurrencies. Wemade participated in the investment alongside Spartan Group, Coinbase Ventures, Kraken Ventures, and others.

CLST Market, a short-term money markets platform for institutions, was launched and has been operating since May, with over 30 institutions registered. Amber Group, GSR, and Algorand are among CLST's clients.

The platform provides services that automate price negotiation and settlement between institutions seeking to borrow and lend virtual assets, thereby enhancing liquidity in the virtual asset market and reducing risk.

Through this strategic investment, Wemade plans to expand the financial and DeFi ecosystem within WEMIX 3.0 and extend its business into the European region.

Jang Hyun-guk, CEO of Wemade, stated, "DeFi based on blockchain technology that is tamper-proof will replace traditional financial markets," adding, "We will introduce various DeFi services on the mainnet WEMIX 3.0, based on the 100% reserve stablecoin WEMIX Dollar."