Firelight raises $8M in funding round led by Gumi Cryptos Capital

DeFi protocol Firelight has raised $8 million in funding, CoinDesk reported. The round was led by Gumi Cryptos Capital, with participation from Maven 11, Metalayer, Joint Effects and Tribe Capital. The company has not disclosed how it will use the funds. Firelight plans to launch its protocol and first DeFi service in September. It is also pushing to expand its collateral assets beyond XRP to include Bitcoin and Stellar, among others.