SynthiFy Finance
Decentralized borrowing against Bitcoin for instant liquidity.
Founded in 2023 by Aditya Krishnan Mohan, Deepan A.S, and Parthiv Chandran, SynthiFy Finance is a fintech company based in Bengaluru, India, operating in the decentralized finance (DeFi) space. The firm offers an open-source platform that allows Bitcoin holders to deposit their assets as collateral to instantly borrow stablecoins, thereby accessing liquidity without selling their holdings. The platform is built on the Internet Computer Protocol (ICP) chain, which provides the security and decentralized framework for its operations.
SynthiFy Finance's core service addresses the need for efficient asset management and liquidity access for cryptocurrency owners. By using ckBTC (chain-fusion Bitcoin), users can engage with the platform's smart contracts to manage their crypto assets. The business model is centered on providing a streamlined and rapid process for borrowing, positioning itself as a faster alternative to other DeFi applications. The company has received an undisclosed amount of seed funding from DFINITY.
Keywords: Decentralized Finance, DeFi, Bitcoin lending, crypto borrowing, stablecoin loans, liquidity protocol, Internet Computer Protocol, ICP, ckBTC, asset-backed lending, crypto asset management, fintech, blockchain finance, collateralized loans, open-source finance, instant liquidity, digital asset lending