Diamante Blockchain Wefunder Crowdfunding Effort Tops $1.3M

Global FinTech firm Diamante Blockchain has raised more than $1.3 million through an ongoing Wefunder crowdfunding campaign and angel investments that the company plans to use for product development, hiring and scaling its operations around the world.

“We aim to make our ecosystem really exciting for the rapidly evolving tech and innovation,” Co-founder and CEO Dinesh Patel said in a Friday (Feb. 4) press release. “Our DeFi products and services facilitate real-time value across the Diamante ecosystem and enable users to move assets instantly.

“The fundraising campaign is receiving immense support from across the globe, and we aim to hit $2.3 million,” he said.

Diamante Blockchain’s decentralized finance (DeFi) payments app, PayCircle, is in beta testing. It allows users, whether they are individuals or companies, send, receive or hold multi-currency fiat and digital assets at a fraction of the current cost in real time.

The application’s FDIC insurance for USD custody is a prominent feature that beats the game among other top payment processors.

“Our DeFi digital ecosystem represents the next-gen way of approaching multi-currency Fiat and digital asset payments in real-time, building innovative dApps and transforming the way businesses and individuals interact with fintech space,” Diamante Blockchain Co-founder and COO Chirag Jetani said in the announcement.

Diamante’s other DeFi credit lending application, CreditCircle, will soon offer instant and secured crypto-collateralized loans, according to the company announcement. The company also recently announced it will soon launch a global nonfungible token (NFT)-/metaverse-based auction universe that allows users to trade rare diamonds and artifacts.

Related: Diamante Enables Real-Time Payments In Diamond Supply Chain

In November 2019, Diamante Blockchain introduced a business-to-business (B2B) payments feature called Diamante Corporate Payments that uses the blockchain to facilitate cross-border transactions in near real time while reducing transaction costs and addressing security and fraud threats.

“The Corporate Payment utilizes Diamante’s decentralized network to allow trade participants based in different geographies to interact and settle payments instantly and at a reduced cost,” said Jetani at the time. “Traceability in online transactions offers peace of mind to all those involved in the diamond trade.”