Upshift Launches Institutional-Grade DeFi Yield Platform with $250 Million Deposits
Upshift, a new institutional-grade DeFi yield platform, aims to simplify yield access for retail investors. It has emerged from the prime brokerage firm August, currently holding around $250 million in deposits.
Key points:
- Upshift targets retail investors facing complex and fragmented DeFi landscapes.
- CEO Alexandre Elkrief emphasizes the challenge of managing multiple chains.
- Founders Elkrief and Aya Kantorovich have previous experience in crypto finance.
- August recently raised $10 million, facilitating significant monthly trading volume in DeFi.
- Upshift focuses on creating simple yield products to attract retail investors.
- The platform is currently not available to US users due to regulatory issues.
- Upshift aims to reach $1 billion in deposits, with plans to grow to $2-3 billion within 18 months.