Meridian secured $4 million in seed funding. The Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures were among the participants in the round, which was co-led by ParaFi Capital and Borderless Capital. Meridian intends to lead Movement Labs’ network of blockchains called Movement, which is home to the Move-based DeFi ecosystem.
Meridian intends to use this cash infusion to grow its worldwide workforce by actively hiring for positions in the field of engineering, product, and advertising. The platform’s aggressive roadmap will be supported by this expansion, which will also quicken its go-to-market plan.
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Adam Cader, Co-Founder of Meridian, said: “This funding round is a significant milestone for Meridian and the broader Move ecosystem. We’re building a platform that will not only enhance liquidity and yield opportunities but also showcase the unique advantages of Move-based smart contracts. Our goal is to create a seamless, efficient, and secure DeFi experience that will attract both users and developers to the Movement ecosystem.”
Meridian will enable partner protocols to create deep liquidity capital-efficiently and offer users safe, active yield on their holdings as the Movement ecosystem’s liquidity and yield hub. The protocol is live on testnet and will launch on Movement’s mainnet on day one, a major milestone for the ecosystem.
Rushi Manche, Co-Founder of Movement Labs, said: “Meridian’s successful seed round is a testament to the growing momentum behind Move-based DeFi. As the ecosystem matures, Meridian will play a crucial role in aggregating liquidity and providing essential financial primitives. This funding will accelerate the development of a robust, secure, and highly composable DeFi landscape on Movement.”
Alpen Sheth, Partner at Borderless Capital, said: Movement is enabling the next generation of secure, accessible blockchain platforms powered by MVM (Move Virtual Machine) and Meridian is building the financial primitives to power the entire ecosystem as a first mover. We are thrilled to back the team and their vision.
About Meridian
Meridian allows users can easily trade and profit from their assets. Meridian is a locally designed decentralized liquidity marketplace.
