Alameda Research Invests $50M in Crypto-supporting Travel App

By Abhimanyu Krishnan | News | 19 Jan 2021

Quantitative trading firm Alameda Research led a $50 million investment round in travel app,, according to a press release issued on Jan. 18.

  • Alameda Research, joined by Genesis Capital and CMS Holdings, invested the sum to help boost the grow the DeFi ecosystem and boost adoption
  • is an offline mobile map that claims to have 140 million users worldwide, and is working on incorporating a wallet and a DeFi ecosystem onto its platform 
  • Use cases include helping individuals pay for their travels by allowing them to earn yields of up to 8% and tackling the issue of foreign exchange fees and commissions through the use of crypto
  • Sam Bankman-Fried, Alameda’s CEO and a well-known industry figure, said that the app has the potential to aid mainstream adoption “by embedding and democratizing access to yield-earning finance to millions of users via an everyday app”
  • Alameda has invested in numerous startups, including trading platform 3Commas, AMM Balancer Labs and oracle network Razor Network

How do you rate this article?



Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


Official Publish0x Crypto News Channel

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.