Veda, a decentralized finance protocol, has successfully raised $18 million to enhance its vault platform, which allows asset issuers to create cross-chain yield products, including yield-bearing stablecoins. The funding round was spearheaded by CoinFund, with contributions from Coinbase Ventures, Animoca Ventures, and others. Launched in 2024, Veda focuses on tokenizing various DeFi applications, such as liquid staking tokens and yield-bearing savings accounts, and currently manages over $3.3 billion in assets. Veda's co-founder, Sun Raghupathi, highlighted the increasing demand for Bitcoin yield generation, despite its complexities. The partnership with Lombard aims to simplify this process. CoinFund's investment reflects a belief in the accelerating adoption of stablecoins, which are seen as a more efficient way to earn yield compared to traditional banking options. Circle's CEO, Jeremy Allaire, anticipates that stablecoins are nearing a pivotal moment in their adoption, with USDC and Tether leading the market. Read more AI-generated news on: https://app.chaingpt.org/news

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