Scaramucci’s Surprising Investment: Kinto’s Token Launch

by

Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, has backed modular exchange platform Kinto ahead of its token launch. 💸

Scaramucci, known for his colorful personality and brief stint in the White House, is among the early investors and supporters of Kinto. His firm, SkyBridge Capital, has backed the platform with a $150,000 investment. 💰

“Kinto’s modular exchange opens up tremendous possibilities for institutional investors to deploy capital on-chain and tokenize products without counterparty risk,” Scaramucci said. 🤝

The project’s native token, $K, launches on Feb. 18, via a fair auction. Kinto’s modular exchange aims to expand in the decentralized finance market, offering a platform that caters to both institutional and retail investors amid the rapid growth in real-world asset tokenization. 🚀

As part of its blockchain and non-custodial smart wallet infrastructure, Kinto uses Chain Abstraction technology to allow users to move assets on and off-chain easily. Customers can achieve this without the need for centralized exchanges. 🔒

Kinto’s user base has grown to about 75,000 verified users, while its DeFi traction has pushed its total value locked to $62 million. “Kinto has built a functioning product, established a verified user base, and created steady revenue streams. Tokenized finance represents a significant and exciting opportunity,” Scaramucci added.

Meanwhile, interest in Kinto has attracted asset integration from several institutional investors. Brevan Howard Digital has deployed $20 million in assets on Kinto—a move that signals the growing demand for on-chain financial products from the traditional finance sector. 🏦

Beyond SkyBridge, other venture capital firms backing the exchange’s total $7 million raise include Parafi, Spartan Group, Modular, and Robot Ventures. 💼

Read More

2025-02-18 19:09