Singularity, a startup focused on creating a protocol that offers compliant and confidential access to decentralized finance (DeFi) for institutions, has successfully secured $2.2 million in funding.
The funding round was led by Gumi Cryptos Capital, with contributions from Nomura’s digital asset subsidiary, Laser Digital, as well as Eureka Partners, Apollo Crypto, Digital Asset Capital Management, and Gandel Invest.
Founded in 2022, Singularity is working on a KYC/KYB-compliant access layer for institutional DeFi, allowing on-chain institutional participants to access leading protocols while prioritizing commercial confidentiality. Users can tap into existing on-chain liquidity and perform transactions within the Singularity ecosystem, all while enjoying on-chain anonymity.
The firm has already onboarded liquid funds, asset managers, and venture capitalists—many of whom are investors—prior to its launch.
Jemma Xu, co-founder of Singularity, stated, “We focused on designing and building in 2023, and despite the challenges in primary markets, our investors’ commitments confirm the institutional need for on-chain transactions without information leaks. We have an exciting product roadmap ahead, including more integrations and multichain deployments. Our primary focus now is to expand our institutional user base.”