Outlier Ventures partners with the Celo ecosystem to defactor the RWA Basecamp Accelerator Program.
Outlier Ventures has selected Celo and Defactor as strategic partners to support a select cohort of the Real World Assets (RWA) Base Camp accelerator program.
The RWA Basecamp Accelerator Program targets innovation in various fields, including finance, infrastructure, intangible assets, and physical assets, over the next 12 weeks starting from mid-May 2024.
The program has garnered support from leading industry partners, highlighting the significant potential and interest in integrating blockchain technology with real-world applications. Among the key partners, Defactor stands out with its commitment to mentor participants and provide a professional toolkit for RWA development to startups in the cohort free of charge for one year.
Known for its mobile-first approach and commitment to creating accessible financial solutions, the Celo ecosystem has over 1 million monthly active users and experience managing stablecoins such as USDC and USDT. Their participation is expected to bring significant expertise and insight into RWAs, fostering innovation in areas such as on-chain lending and tokenized carbon credits.
Katie Lundie, Head of RWA Accelerator at Outlier Ventures, said: “With the support of Celo and Defactor, we can provide startups with a powerful platform to succeed. “The overwhelming interest in the program already highlights the critical need for innovative solutions in this field.”
The launch of the program follows a paper published by Outlier Ventures that discussed the transformative potential of RWAs for connecting cryptocurrency assets with traditional financial systems and beyond.
“RWA tokenization is not only a means of bridging the gap between cryptocurrency markets and traditional financial markets, but it is much more than that,” Outlier Ventures said in a statement.
This approach promises to not only improve liquidity in financial markets but also have a broader impact across a variety of industries by further integrating blockchain technology into the social framework.
Isha Varshney, Head of Ecosystem at Celo Foundation, also spoke about the strategic importance of the program: “Our partnership with Outlier Ventures aligns with our mission to expand financial access and foster prosperity through the Celo community. “This initiative is a pivotal step toward expanding adoption of Web3 technology.”
Defactor co-founder Adam Bouktila highlighted their role in the ecosystem: “We’re not just participating. We are actively building the foundational tools needed for the expanding RWA market. Our goal is to empower projects to provide greater utility to the community.”
The program is accepting applications until May 6, 2024 and is expected to play a key role in shaping the future of tokenized assets and their integration into the global economy.
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