The cryptofirma Alameda Research excludes banks to use Defi for new funds

Alameda Research, one of the largest trading companies on the cryptomarkt, bypasses banks, by up to 1 billion

The computer-controlled trading company that specializes in the purchase and sale of digital assets belongs to one of the richest men in the crypto industry, Sam Bankman-Fried, the founder and CEO of the FTX stock exchange.

On Thursday, Alameda will use a pool of StableCoin Fund, which was deposited by five investors for a syndicated loan of $ 25 million, which will be made via a blockchain infrastructure of the Maple Finance marketplace. This will be the first of a series of claims that are to achieve a billion US dollars over the course of a year, with the first lenders, including the digital asset managers CoinShares and Abra.

stable coins are cryptocurrencies that are bound to other assets, usually the largest and most stable currencies in the world.

The Alameda deal represents banks and other intermediaries from arranging the new financing. Instead, it will test the benefits of decentralized financial or "defi" markets, the size of which has exploded in the past 12 months.

"The flexibility that results from a decentralized, chain-internal loan platform like this helps Alameda to [a Fast Growing] landscape," said Sam Trabucco, co-boss of Alameda.

The company uses stable coins for its trading activities and hopes that it will be financed cheaper and faster by direct tapping peers than by banks, said Trabucco.

The defi markets have grown by 1,700 percent last year and have a total value of 247 billion. The trade volume of decentralized stock exchanges has a similar growth, whereby transactions worth more than $ 300 billion take place every month.

But the fast growth has also brought hacks and thefts. According to Tom Robinson, chief scientist and co-founder of Elliptic, investors have lost more than $ 10.5 billion through theft this year and fraud on the defi markets. In 2020, these losses amounted to $ 1.5 billion.

"The relative immature of the underlying technology enabled hackers to steal the funds of the users, while the large liquidity pools made it possible to wash yields from crimes such as ransomware and fraud," he added.