Decentralized Marketplace SOMA.finance secured $6.5 Million in Seed funding

SOMA.finance, a New York-based decentralized marketplace for digital assets, has recently secured $6.5 million in a seed funding round.

SOMA.finance was founded by John Patrick Mullin and Bill. It offers a decentralized marketplace for digital assets, NFTs and compliant digital securities. As a Joint Venture between the DeFi platform MANTRA DAO and Tritaurian Holdings, SOMA will be a fully compliant DEX and a suite of products for the retail and institutional investors.

It will include the features such as the ability to trade digital assets of all kinds, built-in KYC/AML, and permission-less regulated AMM.

SOMA.finance Co-founder, John Patrick Mullin, said, "We are absolutely thrilled to have closed our seed round with a number of top-tier investors. We believe that SOMA.finance will be the leading digital assets platform with the commitment and expertise to address all regulatory environments, effectively putting the building blocks in place to be the DeFi home of both retail and institutional investors."

SOMA.finance Co-founder Bill Heyn, said, "SOMA.finance is the missing piece that will bring the securities and traditional financial world into the blockchain and decentralized digital assets era. With the strong support of our seed round partners, who share our vision of a compliant DEX, we will strive to deliver a product that will meet the standards of even the most sophisticated of investors."

The round was backed by Animoca Brands, with participation from Griffin Gaming Partners, BCW Group, GSR, Kenetic Capital, Mind Fund, UNKNOWN VC, Tai Ping Shan Capital and Ox Ventures.

The blockchain startup, as of now, has plans to use the new funds to provide its services across the globe, such as the ability to list Regulation CF, Regulation S, Regulation D, and Regulation A offerings, notes the announcement.