The smart currency protocol Umoja has completed a $4 million seed round financing, with participation from Coinbase and others

ChainCatcher news, according to Cointelegraph, the smart currency protocol Umoja has completed a $2 million raise in a seed funding extension, bringing its total seed round funding 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, former head of social impact business at ConsenSys, with the aim of helping users insure their market losses like hedge funds to ensure their financial health, and to introduce asset risk management in the DeFi space. In the future, the company plans to expand its decentralized hedging model to more digital asset areas such as digital bonds, real estate, and commodities.