Five blockchain developers have collaborated to create a blockchain-powered distributed finance platform that enables decentralized and non-custodial cryptocurrency trading.
Launched in 2017 with a mission of “bringing distributed finance to everyone,” founders Fabian Wahle, Fabio Canesin, Ethan Fast, Thomas Saunders, and Luciano Engel established Nash as an integrated financial services platform in which clients could trade, invest, and make payments with cryptocurrencies. The five founders were also the team behind open-source community, dubbed City of Zion. Together, they continue to enhance the primary infrastructure for the NEO blockchain.
The firm secured $12.25 million from traditional VCs, along with $25 million raised through a legal public digital security offering in Liechtenstein. The firm asserts that this is the first offering of its type in Europe. The startup has initially introduced the platform to alpha testers. For security reasons, they are picky about the users they will allow in the platform.
Nash is a decentralized exchange, which means it doesn’t need a mediating third party to facilitate trade transactions. It offers self-custody solutions through its beta exchange and app. Notably, its present browser extension has been installed more than 50,000 times. The extension, which also acts as an identity management system, enables users to pay sites that support Nash’s own NashPay or dApps.
“Nash provides a global web based and mobile platform that allows users to easily trade, pay and invest on digital assets and currencies without having to master blockchain terminology while keeping the security and economic properties of the assets via self-custody solutions,” Canesin said.
Nash also offers funds management solutions that employ advanced cryptography to solve several usability issues with self-custody. The system enables users to pay, trade, and invest in cryptocurrencies without having to master the complexities of blockchain.