CLST, an institutional-only lending and borrowing venue for stablecoins and crypto assets, announced that it has successfully closed an oversubscribed seed round for an undisclosed sum.

The funding round was led by Spartan Group and also included the Tier 1 investors Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, and TX Ventures – the VC investment arm of TX Group.

With the new funding, CLST said that it will bolster its peer-to-peer infrastructure through increased operational and market expansion.

CLST offers institutions safe exposure to the growing, global digital asset marketplace via the borrow and lend proces.

As a one-stop-shop for peer-to-peer lending, CLST attracts digital asset lenders and borrowers such as hedge funds, trading firms, treasuries, market makers, and crypto banks seeking automated digital asset collateral management features.

With more than 30 institutions participating in the network after soft launching earlier this year, CLST is going live with a wide market version of the application later this year.

Michael Guzik

Michael Guzik, Founder and CEO of CLST said, f

“CLST sits at the nexus of the crypto asset short-term debt market and traditional financial market.

In tandem with our world class investors and partners, we are establishing a market for stablecoins, digital assets, fiat, and beyond – the ‘new money’.”

Krzysztof Bialkowski

Krzysztof Bialkowski, Investment Director at TX Ventures said,

“We are excited to add CLST, an innovative crypto lending company, to our fintech portfolio and to support the team in their growth journey going forward. The recent developments in the market have shown the urgent need for further professionalization and structuring in this highly attractive segment.

CLST has showcased strong initial traction and is well positioned to create value in the crypto market. We therefore strongly believe that the CLST team will succeed in becoming a game changer in the institutional crypto lending ecosystem.”

TX Ventures had also recently led Stableton Financial’s CHF 15 million Series A funding round earlier this month.