We've raised $2 million in pre-seed funding, led by @PharsalusCap, to make one idea real: your money should be yours alone, with nothing standing in the way of it.
Sovra is your global dollar account, built for MENA and beyond. Send, earn, spend and transact with anyone, anywhere, straight from your phone.
Built on global infrastructure from @circle, @privy_io, @base , @solana and @Morpho, with all the complexity hidden behind something anyone can use.
Join the waitlist: https://t.co/xkL928Kpba
Congrats to the Sovra team on their raise!
Sovra is building a new kind of financial account for MENA: global from day one, powered by stablecoins, and designed to hide the complexity of modern financial infrastructure behind a simple user experience.
Protected by Privy.
Congratulations to the team at @Morpho on this raise.
Onchain credit is a core primitive in finance: it spans institutions and individuals, and it works across borders.
Sovra builds on Morpho. We are making this infrastructure accessible to people who have never touched crypto, and never should have to think about it.
We’ve just raised $175M, in a round co-led by @paradigm, @a16zcrypto, and @RibbitCapital, the largest raise DeFi has ever seen.
Credit is the bedrock of our civilization, but the infrastructure underneath is fragmented, extractive, and closed to most of the world. That is what @Morpho is here to change.
Morpho is building the open credit network for the world. The global credit market is $ 200T. We are building the infrastructure layer that will move it onchain, and every institution, fintech, and bank that wants to participate in the next era of finance will connect to this network.
After four years of being heads down building Morpho, we now count more than $11B in deposits and integrations with leading financial institutions including @Coinbase, @Binance, @FireblocksHQ, @SG_Forge, @krakenfx, @Bitwise, and dozens of others building on Morpho to offer better products to their users. But this is just the beginning.
This raise will allow us to accelerate: activating the global credit network at scale, building the go-to-market engine to match our ambition, and bringing more institutions onto the network faster.
Having any kind of onchain strategy in this era will mean going through Morpho at some point. Reach out and let's talk. And if you want to help build the open credit network for the world, we have plenty of open roles.
Let’s fly 🦋
We chatted to @SolanaFndn about what it’s like to build self custodial stablecoin infrastructure where it’s needed the most, how it’s a game changer where local banking options have failed, and how it can be a lifeline during times of war.
Bullish Solana.
New episode of Solana is Global with @afscott:
@wehbix, founder of @sovra_finance, discusses building self-custodial financial infrastructure for the MENA region, addressing issues like banking failures and currency volatility.
Check out the full episode 👇
What looks like crypto adoption in Latin America isn't crypto adoption.
It's people who figured out how to keep what they earn, in countries whose currencies don't let them.
The conditions are the same in many Middle Eastern countries.