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DeFi-Focused Startup Blue Comes Out of Stealth With $3.2M Raise

Blue, which offers know-your-customer (KYC) and anti-money laundering (AML) identity verification solutions for traders on DeFi protocols, has come out of stealth with $3.2 million in funding.

The funds were raised in a seed round co-led by Blockchange Ventures and Fenbushi Capital, with participation from DoraHacks, Knollwood Investment Advisory, Gate.io, and Wave Financial, according to an announcement on Tuesday.

Blue will use the funding to complete security audits from Halborn and Verilog Solutions. The rest of the money will go into expanding Blue’s core team and bringing the company’s permissioned DeFi solution to market in the first quarter of 2023.

(By Elizabeth Napolitano)

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