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Despite DeFi Woes, Siam Commercial Bank Puts in Funds

  • VC arm deposits funds into platform promising 4% annual return
  • Investors haven’t lost all faith after TerraUSD’s collapse
   

   

Photographer: Brent Lewin/Bloomberg

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Investors haven’t lost all faith in the lofty promises of decentralized finance after the collapse of the TerraUSD stablecoin.

SCB 10X, the venture capital arm of Siam Commercial Bank, announced Thursday it deposited an undisclosed amount of funds into an institution-grade DeFi product called Compound Treasury that is promising a fixed annual return of 4%.