Cake DeFi is a Singapore-based fintech platform that offers DeFi (decentralized finance) services and applications for everyone. The company has announced the creation of its corporate venture capital arm. They plan to invest $100 to create it.

Cake DeFi Ventures (CDV) will invest in Web3, Metaverse, NFT, Gaming, eSports and more. They will also invest in fintech companies that provide synergistic value to Cake's core business. Based in Singapore, CDV will look for global investment possibilities in companies around the world.

Introducing people to blockchain technology

Cake DeFi co-founder Dr. Julian Hosp, CEO and CTO U-Zyn Chua leads CDV.

Dr. Hosp is an experienced blockchain entrepreneur. He is considered to be a top influencer in the cryptocurrency and blockchain space. He has over a million followers across all platforms. By 2025, Dr. Hosp wants 1 billion people to know and understand blockchain technology.

U-Zyn has been designing and developing decentralized systems for over a decade. A blockchain engineer, enthusiast and investor, Cake DeFi is the world's top platform for investing in DeFi and other emerging alternative assets. The company is located in . Cake DeFi will provide a lot of help to CDV portfolio companies. They will have access to Cake products, connections, users, resources and knowledge in the global blockchain marketplace.

"By establishing Cake DeFi Ventures, we hope to introduce bitcoin and blockchain technology to the masses. Cake DeFi is currently the fastest growing platform in Singapore and Southeast Asia. Our plans to invest are expected to be strongly supported globally," said Julian Hosp, co-founder and CEO of Cake DeFi.

"It's a good idea to invest in companies that can bring synergies to Cake DeFi's core business. This will allow us to enhance our Web3 offering," said U-Zyn Chua, co-founder and chief technology officer of Cake DeFi.

Singapore's new high

According to research, Singapore's investment in the cryptocurrency and blockchain space grew more than tenfold last year. While it remains skeptical of speculative digital assets, it is cementing the city's image of the country as a cryptocurrency powerhouse.

Last year there were 82 agreements worth a total of $1.48 billion, according to KPMG's FinTech Pulse study released Tuesday. That's up from $110 million in 2020.

Most of the investment in bitcoin and blockchain last year was centered on software and underlying infrastructure, rather than services. According to KPMG, emerging industries account for one-third of total fintech investment in Singapore. That totaled $3.94 billion last year.

KPMG expects cryptocurrency investments in Singapore to continue to be strong this year, even as regulators impose stricter controls. Last month, the central bank issued a directive to cryptocurrency businesses.

The company forbade them to advertise their services to the public. However, the program began to send shivers down the market's spine.

  • How to buy cryptocurrency
  • How to Buy Bitcoin