Full-service investment company Genesis Block Ventures (GBV) announces an investment in stablecoin protocol HaloDAO.
HaloDAO is bringing DeFi to Asia for its Version Zero. It builds a stablecoin optimised AMM and Lending Market to drive the adoption of local asset backed stablecoins starting by supporting xSGD, THKD and BIDR. With the rising trend of CBDC emergence, Asset backed stablecoins are proving to be a reliable trading asset and regulators favour it as capital is custodied on-shore, mitigating capital outflow risks.
The challenge now is that no project has successfully built deep liquidity beyond USD. HaloDAO is committed towards building optimised DeFi infrastructure that encourages local asset backed stablecoin liquidity to bring fresh liquidity into the ecosystem. With the total broad money supply in the world estimated at $86.5 trillion (CIA Factbook), we see HaloDAO tackling one of the biggest opportunities in the DeFi space. That’s why we are excited about HaloDAO’s mission to build the next phase of crypto expansion.
Cryptocurrency adoption is accelerating in Asia, with a growing population starting to use and own crypto assets. In particular, stablecoins, whose value is tied to a certain asset to stabilize the price, are well-positioned to the widespread adoption of digital payments in the region.
As the technology matures in Version One, HaloDAO will be providing more support for other regional asset backed stablecoins to allow yield farming on its AMM+Lending Market.
Building The Future Crypto Economy
HaloDAO takes a balanced approach towards regulation. It builds liquidity networks via asset backed stablecoins issued by regulated e-money issuing entities. AMMs, centralised Exchanges (CEXs), over-the-counter (OTC) trading desks, P2P exchanges, and fiat on-and off-ramps are all essential places where HaloDAO can connect liquidity from traditional finance and DeFi.
With a greater supply of local stablecoins, HaloDAO will enable users to access the permissionless decentralized finance (DeFi) economy, thereby lowering the barrier to individual financial participation in a region that needs it the most.
As an investment company with a mission of building the future through blockchain technology, Genesis Block Ventures has built a wide-reaching, vibrant blockchain ecosystem, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and decentralized finance (DeFi) projects.
In the crypto revolution underway, we share the same vision with HaloDAO that localization and cultural adaptation is key in winning the mass adoption race. Through the investment, Genesis Block Ventures will help further expand HaloDAO’s impact to a wider audience in the region. We are excited to participate in HaloDAO’s journey to build Web 3.0 financial infrastructure globally.
Decentralized Autonomous Organization HaloDAO is a stablecoin marketplace protocol that is building inclusive Web 3.0 infrastructure to bridge traditional and permissionless finance. They do this by building a stablecoin liquidity network, to facilitate efficient, on demand currency exchange via its AMM and a stablecoin specific lending market that provides high interest yields on local currencies.
About Genesis Block Ventures
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.