Galaxy Digital leads $20M Series A fundraise for DeFi firm Skolem

Galaxy Digital (OTCPK:BRPHF) on Wednesday has led a $20M Series A funding round for Skolem Technologies, an asset management and execution services provider for decentralized finance ("DeFi") markets, according to a release. Skolem said it will use the financing proceeds to build out its team, as well as scaling technological capabilities on its platform "to grow the DeFi market by orders of magnitude," as per the release. “DeFi markets are constantly evolving, making it difficult for institutions to easily trade, record, and engage in the market in a secure and dependable way," Skolem CEO and Founder JP Smith said in a statement. "At Skolem, we are firm believers that DeFi will change our world over the next decade, and we are committed to increasing access to this important market by developing a scalable platform that can safely provide an entry point,” he added. The funding round also included participation from Point72