According to PANews, DeFi infrastructure company Yield.xyz has raised $5 million in strategic funding from Multicoin Capital. Originally established in 2021 as the multi-chain wallet Omni, the company transitioned into a yield aggregation platform following its acquisition by Echo Base, the parent company of Paxful, earlier this year.
Yield.xyz integrates over 200 yield sources within the Solana ecosystem through a unified API, offering plug-and-play DeFi yield functionalities for wallets and crypto applications like Ledger. The company plans to expand its services to traditional fintech companies, such as neobanks, and develop automated yield strategy features.