Veda has raised $18 million in the latest funding round to scale its universal vault infrastructure. The round was led by CoinFund, with backing from Coinbase Ventures, GSR, Animoca Ventures, Mantle EcoFund, BitGo, and other strategic investors. Notable angel investors include Anchorage CEO Nathan McCauley, Ether.Fi’s Mike Silagadze, and Polygon’s Sandeep Nailwal.
The capital injection comes as Veda’s BoringVault framework — now the most widely adopted vault standard in DeFi — surpasses $3.7 billion in total value locked (TVL) and supports over 100,000 depositors since launching in March 2024.
DeFi’s Infrastructure Moment
Despite the growth of DeFi, the market still struggles with accessibility and scalability. Protocols often expose users to complex interfaces, fragmented liquidity, and high technical risk — barriers that deter broader adoption. Veda aims to address this by abstracting away these challenges through vaults — programmable smart contracts that manage assets and execute defined financial strategies like yield generation, staking, or synthetic asset issuance.
“Veda solves an unmet and growing need in the DeFi ecosystem—as more wealth comes on chain, infrastructure for the on-chain equivalent of traditional ‘funds’ must exist, and Veda is the leader in providing these vaults,” said David Pakman, Head of Venture Investments and Managing Partner at CoinFund.
Invisible Infrastructure, Real Yield
Veda’s modular and cross-chain design allows financial apps, exchanges, and asset issuers to integrate DeFi-native products while preserving user self-custody. The protocol’s backend infrastructure powers a growing roster of on-chain strategies — from Plasma’s yield vaults to ether.fi’s weETHs and eBTC restaking products, and wallets including Binance Wallet and Bybit Web3.
Its universal vault infrastructure underpins a key shift in decentralized finance: one where users no longer interact with DeFi directly, but instead through familiar fintech platforms that quietly harness its yield potential.
“The best infrastructure is invisible — it just works,” said Veda Co-Founder and CEO, Sun Raghupathi.
“Veda enables any platform to offer onchain yield without exposing the complexity of DeFi, while preserving what makes it powerful: self-custody, transparency, and control,” Sun noted.
Institutions Are No Longer Just Experimenting
The timing is notable. According to a May 2025 report by Bain & Company, over 45% of global financial institutions are now testing or deploying blockchain-based financial products, up from 23% in early 2023. DeFi adoption, long hindered by security concerns and user friction, is gaining institutional legitimacy through standardized, auditable frameworks like Veda’s BoringVault.
“Institutions and fintechs aren’t just exploring DeFi in theory anymore — they’re actively implementing it,” said Veda COO, Stephanie Vaughan. “Veda’s BoringVault framework is already the definitive standard in DeFi, and the only one operating at this scale with a flawless security record.”
Competitive Edge in a Crowded Market
Veda operates in a highly competitive ecosystem that includes players like Yearn Finance, Sommelier, and Enzyme Finance — all attempting to solve similar problems around automated asset management. However, Veda’s composable architecture and cross-chain reach have positioned it as a preferred backend for both new protocols and traditional fintech platforms seeking crypto exposure.
Its security-first approach also stands out. Despite exponential growth, the protocol boasts a flawless track record — a critical differentiator in an industry plagued by smart contract exploits and bridge failures.
With this new funding, Veda plans to further scale its infrastructure, deepen integrations with centralized exchanges and fintech platforms, and expand its developer tooling. The company also hinted at exploring additional use cases such as on-chain fund management, programmable treasuries, and regulated yield-bearing stablecoins.
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