Solstice Labs launched by Deus X Capital
DEUS X Capital has launched Solstice Labs - a Lisbon-based crypto business focused on facilitating access to DeFi for institutional and retail investors.
The announcement was made today at Solana Breakpoint 2024.
Solstice Labs’ first project, scheduled to go live in early 2025, will be a protocol offering enhanced yield opportunities.
The protocol will be built upon the Solana blockchain and is expected to launch with more than $100 million of total value locked (TVL) on the back of significant investment from Deus X.
Solstice Labs is wholly funded by Deus X Capital and will operate under its enterprises division, where it will partner closely with other portfolio companies. Crucially, Solstice Labs will work closely with Deus X Enterprises companies Cor Prime - the recently launched principal and prime lending business - Alpha Lab 40, the proprietary trading business, and Deus X Ventures company APEX:E3.
Ben Nadareski, currently Investment Director at Deus X Capital, has been named co-founder and CEO of Solstice Labs. Prior to Solstice Labs, he was a Vice President of Trading at Galaxy Digital, where he oversaw the first BTC settled derivative trade with counterparty Goldman Sachs. He was also Director of M&A and member of the investment board at SIX Digital Exchange, and visiting guest lecturer on digital assets and crypto at The Wharton School for four years.
“Many DeFi products and protocols have been built using exceptional technology stacks like we have seen with Solana but have largely been overlooked for institutional applications," he said.
"This presents a huge opportunity to introduce institutional-grade yield-opportunities and infrastructure into DeFi which will allow for a far broader range of investment participation.”
Tim Grant, CEO of Deus X Capital, is a co-founder of Solstice Labs and has been appointed Chairman. Grant brings more than 25 years of experience in financial markets including a decade of experience working in digital assets, most recently as Head of EMEA at Galaxy Digital. Stuart Connolly, CIO of Deus X Capital and CEO of Alpha Lab 40, will join as Chief Investment Officer & co-founder.
“Solstice Labs represents a key pillar in the Deus X Capital strategy to invest in and build enterprises that act as a bridge between traditional capital markets and crypto and DeFi ecosystems," explained Tim Grant (main image).
"We strongly believe that the combination will result in a faster, better and cheaper financial system in which everyone can prosper. We’re excited to see Ben Nadareski take the helm of this important initiative and we look forward to working with him towards the launch of our first protocol in 2025 and subsequent launches in the future.”
