Three former engineers at crypto exchange Coinbase left the company earlier this year to start their own venture. On Wednesday, the team announced its new project: a crypto savings app called Nook, alongside $2.5 million in funding from venture capital firms Coinbase Ventures, Defy.vc, and UDHC. The company declined to disclose its valuation in the round.
Nook seeks to make it easier for non-crypto-native users to increase the amount of their crypto holdings through services like Aave, which let users lend their crypto to borrowers in exchange for interest.
