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A Defi Company "FarmBit" Receives $240k Seed Funding From Top Crypto Angel Investors and Partners With Despace Protocol.

FarmBit receives $240k Seed funding from top crypto Angel Investors and partners with Despace Protocol

Millions of small businesses from emerging markets have stayed offline for the past decade due to the financing gap between these businesses and traditional financial institutions. 

FarmBit is fixing the financing gap between agribusinesses and traditional finance from emerging economies using DeFi and NFT. Business inventories are turned into NFTs, which are then financed through FarmBit Pool.

Today, the African blockchain startup FarmBit receives $240k Seed funding from top crypto Angel Investors and Despace Protocol. Started by some vibrant crypto professionals in 2020, FarmBit is developing a decentralized, blockchain-based protocol that aims to rethink how agribusinesses transact with each other more efficiently and openly. Asset-backed financing as we know it, and more importantly, the resulting inefficiencies in traditional finance and access to global liquidity.

WHAT IS FARMBIT?

An asset-backed financing platform that provides fast access to financing for businesses using DeFi. Assets are turned into NFTs, which are then financed through FarmBit Pool.

Who Owns Farmbit?

Daniel Nicholas, the CEO, and founder of FarmBit stated: “We want to fundamentally change how agribusinesses from emerging economies interact and access liquidity by making them accessible to global liquidity. We are building a world-class team from Africa, USA, and India, with some of the most talented blockchain engineers. Their expertise in the blockchain space is an asset to FarmBit.”

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So guys what's your take on Farmbit?

Drop your comments below.

These FARMBIT Is really an interesting and innovative project. I wish to see more future partners.