Curv Integrated with Compound to Onboard Institutional Investors in DeFi

UTC by Steve Muchoki · 3 min read
Curv Integrated with Compound to Onboard Institutional Investors in DeFi
Photo: Depositphotos

Thanks to the integration with Compound, Curv’s customers “no longer need to let their digital assets sit idly”.

Curv announced that it has integrated with Compound, which is dubbed as DeFi’s largest lending protocol. Curv prides to be the institutional standard for digital asset security.

Decentralized finance is a promising field that institutional investors have not yet fully unlocked its potential. With the Compound integration, Curv’s customers “no longer need to let their digital assets sit idly,” said Curv in the announcement. Instead, they will be in a position to lend out their digital assets through Compound’s non-custodial smart contracts.

Compound and Curv Partnership

Use cases in the Compound protocol are likely to push the COMP token market price higher in the next wave. At the time of writing, Compound was trading at around $155.

With institutional money coming into play, confidence in the DeFi space will rise. Retail customers will gain confidence despite the Busch risk associated with the business, mostly due to hackers and scammers.

“We got requests for it maybe about two, two-and-a-half months ago,” said Curv Chief Operating Officer Josh Schwartz. “Compound is the first DeFi integration. They’ve seen a lot of growth lately, and they lead the way with 40% of DeFi value locked up in their protocol.”

For now, the company confirmed that only deposits will be supported, although there are plans to enable clients to borrow crypto assets through Compound in the near future.

Compound has been working on improving its network to assure institutions on the security of its systems. “[Compound] has a long list of institutions who would love to interact with them but need a secure stack to do so,” Schwartz said.

The integration will further enhance globalization and level the playing ground for people with disadvantaged economies.

On the Flipside

Curv was founded in 2018 and has partnered with different market players including etoro, Genesis, Korbit, Coinhouse, SwissBorg, Bitbond and many more.

The company stated in its website that its decentralized security model utilizes multi-party computation (MPC) protocols, in order to enable transactions to be securely signed in a mathematically-proven, distributed way.

Curv has been fundraising through private institutions to further its course. Previously, it announced the successful completion of Series A funding, which brings Curv’s total funding to $30 million. “We are very proud to announce that we have raised $23M in a round backed by CommerzVentures, Coinbase Ventures, and Digital Garage Lab Fund, with previous investors Digital Currency Group and Team8 continuing their support in Curv as well,” the company stated.

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