- Exciting News: On-chain financial obligation securities market Obligate launches on Base
- Oblige, a Swiss-regulated on-chain bonds platform, together with Base, an Ethereum layer-2 scaling platform released by Coinbase, are revolutionizing the financial sector.
- The release on Base is anticipated to enhance institutional adoption of on-chain financial obligation securities, according to Obligate’s head of partnerships.
Bind, a Swiss-regulated blockchain market for capital markets, has officially launched on Base, the Ethereum layer-2 scaling solution introduced by Coinbase.
In an announcement released on Thursday, Obligate described the development as a significant milestone in the effort to promote adoption of on-chain financial obligation securities to more users.
Bind is now live on Base! A massive step for on-chain financial obligation capital markets, powered by @BuildOnBase @Coinbase‘s Ethereum Layer 2 incubation. https://t.co/8K3fa3aQfA
— Obligate (@obligatecom) November 30, 2023
With demand for on-chain bonds increasing across the DeFi market, this launch is a crucial step that will see more institutional investors embrace blockchain-native assets.
Base’s commitment to creating a more open financial system aligns closely with our vision of promoting institutional engagement in on-chain capital markets,” said Matthias Wyss, the head of strategic partnerships at Obligate.
Highlighting that launching on Base will provide more organizations the tools and infrastructure they need to participate in on-chain financial obligation capital markets, Wyss added:
Our launch on Base demonstrates a shared vision to overcome the barriers challenging institutions, offering them a secure and efficient platform to engage with on-chain debt products. Make no mistake, this represents a paradigm shift in the integration of blockchain technology into institutional finance“
Base launched in early August and has seen substantial growth since, with revenues recently exceeding $10 million. The L2’s monthly active user count has also been impressive, with over 1 million on average.
Oblige raised $8.5 million in its seed financing round, with backers including Earlybird, Blockchange Ventures, SIX Fintech Ventures and Circle Ventures.
