Tenity, a global innovation ecosystem and leading fintech investor, is expanding its focus on decentralized finance (DeFi) through its Incubation Fund II.
The fund will provide support to startups leveraging the XRP Ledger (XRPL) in Asia and Europe.
Supported by institutions such as UBS, SIX Group, Julius Baer, Generali’s House of InsurTech Switzerland and Ripple, which is also a Strategic Partner and Limited Partner, the fund seeks to foster the development of blockchain-based financial solutions.
Tenity highlighted the speed, energy efficiency and security of the XRP Ledger as key factors in its adoption.
The platform has been operating reliably for over a decade without any reported security breaches and offers features such as a decentralized exchange (DEX), tokenization support, and deposit functionality.
The partnership builds on Tenity’s work with Ripple since 2023, which has supported 29 startups chosen from over 200 applications.
These accelerator programs have focused on the development of DeFi solutions, tokenization of real-world assets, and payment innovations.
Through its Incubation Fund II, Tenity invests in fintech and insurtech at the pre-seed and seed stage through accelerator programs in Zurich, Singapore and Tallinn.
The fund provides seed funding as well as mentorship and access to its network. It aims to create value for both its portfolio companies and its limited partners.
Tenity strives to create a diversified portfolio, targeting sub-segments of fintech and insurtech to support emerging innovations in the financial sector.
“We believe decentralized finance is reshaping the future of financial services by providing more accessible, efficient and innovative solutions.
By empowering startups to drive this transformation, we aim to accelerate the development of technologies that can solve real-world challenges and redefine how financial systems work on a global scale.
said Andreas Iten, CEO and co-founder of Tenity.
Featured image credit: edited from Freepik