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Torram’s pre-seed closure paves the way for institutional-grade DeFi on Bitcoin

Torram recently closed a 710,000 USD pre-seed funding round, led by prominent investors such as Draper Associates and Blockchain Founders Fund. This funding highlights significant market interest in building institutional-grade DeFi systems on the Bitcoin blockchain.

The company’s focus is on developing various tools to enhance Bitcoin’s role in decentralized finance, particularly by integrating traditional finance with secure Bitcoin transactions. Vakeesan Mahalingam, CEO of Torram, foresees a transformative future where Bitcoin systems are seamlessly integrated into institutional use.

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