Nook, a cryptocurrency savings platform developed by former Coinbase engineers, has secured $2.5 million in funding. Key investors include Coinbase Ventures, defy.vc, and UDHC, reflecting robust backing for the project.
The platform targets users unfamiliar with blockchain technology, streamlining crypto asset growth through automated integration with established protocols like Aave. By enabling decentralized lending capabilities, Nook allows everyday investors to lend digital assets and earn interest without navigating blockchain complexities.
This approach bridges traditional finance and decentralized finance (DeFi), offering intuitive access to yield-generation strategies typically reserved for technical users. The backing from prominent venture firms signals strong investor confidence in simplifying crypto savings solutions.
The funding will accelerate Nook’s mission to expand accessibility in the crypto ecosystem, highlighting increased demand for user-friendly gateways into DeFi markets and yield-bearing products.