Anthony Scaramucci Backs Modular Exchange Platform Kinto

Anthony Scaramucci, the founder and managing partner of alternative asset management and investment firm SkyBridge Capital, has backed the modular exchange platform Kinto ahead of its token launch.

Scaramucci claims to be among the early investors and supporters of Kinto, with his firm backing the platform with a $150,000 investment.

> “Kinto’s modular exchange opens up tremendous possibilities for institutional investors to deploy capital on-chain and tokenize products without counterparty risk,” Scaramucci said.

The project’s native token, $K, will launch on Feb. 18, via a fair auction.

Kinto’s modular exchange aims to expand within the decentralized finance (DeFi) market. According to a press release, it offers a platform that caters to both institutional and retail investors amidst the rapid growth in real-world asset tokenization.

As part of its blockchain and non-custodial smart wallet infrastructure, Kinto uses Chain Abstraction technology to allow users to move assets on and off-chain easily without the need for centralized exchanges.

Kinto’s user base has grown to approximately 75,000 verified users, while its DeFi traction has increased its total value locked to $62 million.

> “Kinto has built a functioning product, established a verified user base, and created steady revenue streams. Tokenized finance represents a significant and exciting opportunity,” Scaramucci added.

Meanwhile, interest in Kinto has attracted asset integration from several institutional investors. As highlighted by crypto.news, Brevan Howard Digital has deployed $20 million in assets on Kinto—a move signaling the growing demand for on-chain financial products from the traditional finance sector.

Beyond SkyBridge, other venture capital firms backing the exchange’s total $7 million raise include Parafi, Spartan Group, Modular, and Robot Ventures.

Read more

Brevan Howard Digital deploys $20m in assets to Kinto.