Israeli Startup Atomic Raises $2.5M in Hexa-Led Financing Round

Atomic, a decentralized collateral management platform, announced on Monday that it secured $2.5 million in a seed funding round led by Israel-based
The as the Tel Aviv-based startup is developing a multi-chain decentralized collateral management solution, that works as a base-layer for other digital finance solutions such as , crypto-based payments, and crypto-based loans.

Commenting on the firm’s ambitions, Amit Green, c-founder and CEO of Atomic, said: “The concept of placing collateral for backing a deal creates immediate trust, and has been around for thousands…Blockchain technology has allowed us to take this concept even one step further, by removing the custodian middle-man from the equation.”
Bringing peer-to-peer technology in crypto lending
The 10-member team of the company has already launched the first implementation of its P2P Collateral Guarantees technology. Dubbed Project Atlantis, this will allow the users to buy and sell digital currencies on different blockchains.
The announcement also explained that though the platform requires users to lock some of their wallet’s funds as collateral for backing their transactions and obligations, these locked funds need not leave their crypto-wallet or be placed with a middle-man. This will eliminate the concerns of the security of a third-party platform.
“In today’s world, when you want to take a loan, you need to go to a bank, get approvals, and put up your house or something else of value as collateral,” Green added.
“When many physical assets will get their own digital representation such as real-estate tokens, equity/security tokens and more, this long and cumbersome process will move to the digital world and will take seconds. You’ll be able to take a loan to buy a new car, locking up a small percentage of your portfolio as collateral, in mere seconds and without any need for a bank.”
The company is also working to enable micro-payments with instant confirmation to onboard the wide spectrum of merchants.

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