Solana-based Synchrony Finance raises $4.2 million

The Solana-based asset-management protocol Synchrony Finance raised $4.2 million in a strategic funding round.

Participants in the round included Sanctor Capital, Wintermute Trading, GBV Capital, HashKey, Magnus Capital, 0xVentures and other investors. To attract funding, a SAFT arrangement was used.

The Hong Kong-based startup Synchrony plans to expand its development team and increase its marketing spend.

The project is developing an AI platform for copy trading and the creation of customizable user indices from various token sets, automatically rebalancing liquidity pools and portfolios, as well as other on-chain tools.

Earlier, Grape Network on Solana raised $1.2 million. The project develops tools for creating a DAO.

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