DeFi Technologies has announced an agreement with SDK:meta, allowing it to obtain a 10% equity interest in the latter. SDK:meta is a privately held web3 blockchain technology company based in Michigan focused on the mass adoption of user-centric platforms and increasing mobile access for decentralized finance services.

DeFi Technologies to Issue Shares to SDK:meta for 10% Equity Interest

As per the agreement, DeFi technologies will issue 3,000,000 common shares of its company to SDK:meta in exchange for the 10% equity interest. The transaction between these two entities will not include a finders’ fee. DeFi Technologies is yet to release additional information on the arrangement.

The two companies are also planning to partner with each other, which would enable SDK:meta’s platforms to leverage to DeFi’s technologies’ decentralized finance ecosystem. 

The agreement between the companies is subject to receipt of approvals from board members and shareholders. Both parties are required to meet all conditions unless any of them is waived in writing.

DeFi Technologies Is Expanding its Services in a Rapidly Growing Industry

DeFi Technologies is a Canadian company founded by Wouter Witvoet and Olivier Roussy Newton, who raised $1.4 billion in their previous deals. The company aims to enhance shareholder value through the development and management of assets in the decentralized finance sector. 

The firm has been expanding its bouquet of services and offerings. Earlier this month, its subsidiary Valour launched its Polkadot exchange-traded product(ETP) on the Nordic Growth Market(NGM) stock exchange. The ETP enables investors to securely trade in Polkadot protocol’s native token DOT via their bank brokers.

At the moment, DeFi Technologies is engaged in providing retail and institutional investors with opportunities for investment in the growing decentralized finance market. It offers one-click solutions for asset management, access to early ventures, and governance for networks conducting transactions. The company’s technology promises to remove the need for a third party by making transactions transparent, tamper-proof, and verifiable by everyone.