Veda secures $18M with backing from Coinbase Ventures, highlighting the growing trend of yield-bearing stablecoins and DeFi innovation. The funding underscores the increasing demand for accessible Bitcoin yield.

Veda, Funding, and Coinbase Ventures: Riding the DeFi Yield Wave

Veda, a DeFi vault platform, recently secured $18 million in funding, with Coinbase Ventures participating. This investment highlights the growing importance of yield-bearing stablecoins and the innovation happening within the decentralized finance space.

Veda's Rise: Powering the Future of DeFi

Launched in 2024, Veda is quickly becoming a key player in DeFi. They provide tools for tokenizing decentralized finance applications, covering everything from liquid staking tokens to yield-based savings accounts and stablecoin yield instruments. Their vault infrastructure is already powering significant platforms like Ether.fi’s Liquid and Mantle’s cmETH.

$3.3 Billion TVL: A Testament to Veda's Impact

Veda's Total Value Locked (TVL) has surpassed $3.3 billion, according to DefiLlama. This surge in TVL, starting in late 2024, is a clear sign that their platform is resonating with users and developers alike. Their ability to support cross-chain DeFi vaults makes it easier for asset issuers to offer stablecoin yield, a crucial factor in their growth.

Coinbase Ventures and the Stablecoin Revolution

The participation of Coinbase Ventures in Veda's funding round signals a broader trend: the rise of yield-bearing stablecoins. CoinFund's David Pakman believes that enabling both fiat and digital assets to generate stablecoin yield directly onchain is the "natural next step" in DeFi's evolution. This could even disrupt traditional finance, potentially endangering traditional bank savings accounts as more people seek yield opportunities within the crypto ecosystem.

Bitcoin Yield: A New Frontier

Veda is also tackling the challenge of Bitcoin (BTC) yield generation. As Veda’s co-founder and CEO, Sun Raghupathi, notes, there's high demand for dependable Bitcoin yield, but harvesting it can be complex. Veda is working with Lombard to address this by developing liquid-staked Bitcoin infrastructure on Babylon.

Stablecoins: Approaching an