Oxygen to raise $40 million in a round led by Alameda Research

Oxygen, a Zug, Switzerland-based operator of a risk management platform in DeFi, announced raising $40 million.

The money was raised from investors led by US-based Alameda Research, joined by MultiCoin, Genesis Capital and CMS.

Oxygen, founded by Alex Grebnev and Viktor Mangazeev, is a decentralised prime brokerage protocol that will offer prime brokerage services that have traditionally been limited to investment banks and hedge funds to everyone, free of centralised control. Oxygen is powered by the OXY token, which will allow users to govern the Oxygen protocol and to benefit from 100 per cent of Oxygen’s net revenues. The Oxygen protocol will integrate into MAPS.ME bringing a potential user base of more than 100 million into the liquid DeFi Serum ecosystem.

Oxygen will launch on the fast-growing Serum decentralised exchange which runs on Solana’s scalable and low-cost blockchain. Solana currently processes up to 50,000 transactions per second with each transaction costing $0.00001, with plans to further scale these capabilities.