Cryptocurrency Interest-Free Lending Service Agreement Sovryn Completes $5.4 Million Financing Led by General Catalyst

Chain Catcher news, the encrypted lending service protocol Sovryn announced the completion of a $5.4 million financing round, led by General Catalyst, with participation from Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan.

It is reported that Sovryn's core product is an innovative lending protocol called Zero Protocol, which helps users obtain zero-interest loans using their Bitcoin as collateral, allowing users to decide when to repay. The company will use this new funding to expand its global financial operating system, aiming to provide better personal financial autonomy for people around the world. According to Sovryn core contributor Edan Yago, they do not have a company, foundation, or nonprofit organization behind them, but rather resemble a user-owned, open-source code-based cooperative. (source link)