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Stellar Development Foundation Forms $30M Fund for Blockchain Startups

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Key Insights:

  • SDF launches new Matching Fund for early-stage blockchain projects.
  • The Fund is seeking to invest in pre-seed and Series B projects.
  • XLM price is on the verge of a breakout.

The Stellar Development Foundation (SDF) has established a new $30 million Matching Fund to provide more early-stage firms access to funding.

According to a news release today, SDF is seeking to invest in pre-seed and Series B firms interested in using the Stellar blockchain. It has established this Fund as a means for these businesses to access funding.

Also, it revealed four new projects it funded in the payroll and remittance industries across the world.

The four projects include Trace Finance, Bitwage, Afriex, and FanVestor. The funds also focused on NFTs and cross-border remittance solutions.

The Matching Fund is a way for SDF to attract investors by assisting with early-stage experimentation for real-world practical use instances that benefit more consumers, according to Andrea Lo, SDF’s Head of Investments. He added,

“In 2022, we’re putting our funding behind more innovators in…

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