Hedgy is no longer in a bitcoin derivatives business, according to CEO Matt Slater.
In a new interview, Slater pronounced that Hedgy has pivoted divided from a strange positioning as a bitcoin derivatives and intelligent contracts startup, aiming to recast itself as a blockchain applications growth height identical to Chain or Gem.
Hedgy lifted $1.2m final Apr from a list of notable VCs including Draper Fisher Jurvetson partner Tim Draper, Salesforce CEO Marc Benioff, and Sand Hill Ventures.
At a time, a startup had sought bitcoin miners and merchants to use a tools, enabling them to close in a cost of bitcoin and defense land from volatility.
However, Slater pronounced that direct for a product valid weaker than expected, and as such, a startup set a sights on new markets.
Slater told CoinDesk:
“We found that there’s a lot some-more seductiveness there and a lot reduction seductiveness in a bitcoin product. For us, we see bigger opportunities in building ubiquitous purpose blockchain applications.”
Slater declined to name a company’s clients, though pronounced a startup is now ‘blockchain agnostic’, charity services for bitcoin, Ethereum and a still in-development Hyperledger blockchain project.
Hedgy, Slater said, has been increasingly looking into Ethereum due to