August Secures $10 Million Series A to Enhance On-Chain Finance Infrastructure

August, an on-chain prime brokerage and execution platform, has announced a successful $10 million Series A funding round. This round was led by Dragonfly Ventures with participation from several other investors, including SCB Limited and 6th Man Ventures. The funds will enable August to enhance its on-chain prime brokerage capabilities, including a portfolio margin system that facilitates institutional access to staked assets and yields as collateral for structured financial products. August supports a wide range of blockchain assets and tokens, and aims to bridge DeFi with traditional finance through improved efficiency and risk management tools. The company's institutional focus comes in light of the collapse of several major centralized finance entities, as it seeks to offer more transparent and secure financial infrastructure. August's current clients include institutional hedge funds and trading firms, while fintech partners recognize their commitment to setting new standards in digital asset trading. With proven transaction volumes and a growing client base, August continues to be a significant player in the digitization of financial services.