Josh Schwartz is CEO and co-founder, Fordefi.
What were the key theme(s) for your business in 2022?
The key theme for us, and the blockchain space as a whole, centers around the evolution of digital assets and their growing use cases. Because blockchain use cases in DeFi and web3 are now more complex, the industry needs custom-built platforms to unlock these opportunities. For institutions, the value and opportunities of blockchain can only be realized with unprecedented levels of security, connectivity and transparency. At Fordefi, we committed ourselves to developing the only institutional MPC wallet purpose-built for DeFi.
What was the highlight of 2022?
In 2022, we launched our DeFi wallet and security platform, enabling institutional market participants to self-custody digital assets and safely connect to decentralized applications (dApps). We closed an $18 million seed round with industry leading investors, and spent 2022 developing and building the most advanced, secure and DeFi-optimal platform possible. November’s launch was a culmination but also just the beginning. We’re excited to be leading institutions towards DeFi adoption.
What trends are getting underway that people may not know about but will be important?
In a record year of crypto hacks, bankruptcies, and collapses, we truly believe that DeFi is the path forward. Pushing for self-custody and developing appropriate middleman use cases will be two core trends we’ll see in the space. However, the industry will still need to work on two of the biggest challenges in DeFi today preventing further adoption: security and transparency. Fordefi works to increase operational efficiency around DeFi security, an important solution to growing crypto hacking concerns. With the right technology now available, we’ll also see a return to one of the original promises of blockchain – decentralized finance. With Fordefi, both TradFi and crypto native institutions are now able to safely transact in DeFi. We’re sure to see growth in institutional adoption and new investments in DeFi.