Disruptive blockchain startup LOCKED MONEY announced that it had raised over $1.1 million in seed and private rounds from within its community for its trustless digital asset management solution. Implementing cutting-edge trustless vaults to safeguard crypto investors’ digital assets, Locked Money combines the benefits of custodial and noncustodial solutions, giving users full control of their assets while granting them access to sophisticated legal frameworks, unparalleled tax benefits, and best-in-class asset protection.
As the decentralized finance (DeFi) sector continues to grow with ~$100 billion of total value locked (TVL) in its various protocols, so does the need for improved custody and asset management for users. A lack of regulatory clarity, tax complexity, and losses from security breaches or user error often prevent crypto investors from realizing their digital wealth potential.
Locked Money addresses these challenges by combining the security of cold storage with the benefits of traditional finance providing a secure, tax-efficient, and user-friendly service that meets the rising needs of crypto investors.
With trustless vaults that do not involve intermediaries or middlemen and are compatible with a wide range of digital assets, wallets, and tooling, users retain full control of their assets while avoiding personally realizing gains when trading through Locked Money vaults. Locked Money operates in a zero-tax jurisdiction and their trustless vaults are not subject to capital gains taxes. Users can even benefit from additional tax deductions depending on individual circumstances.
In addition to secure, transparent digital asset management and ultimate tax efficiency, Locked Money provides a robust layer of protection against lawsuits, ideal for those in high-risk professions. These types of legal structures have been used for centuries by high-net-worth individuals to shield their assets and optimize taxes and are available to everyday crypto investors.
Locked Money provides ultimate security with a multi-signature solution that allows users to create and customize their vaults with different levels of access and control for themselves and trusted third parties. Its four-tier subscription model allows users to select the option most suitable for their needs, with a free plan giving them access to multi-sig trustless vaults and the highest security, and paid-for models unlocking additional features from debit cards for daily spending to tax optimization strategies, and bespoke solutions for high-net-worth individuals.
The Locked Money platform is powered by the LMY Token which serves as the backbone of the ecosystem, facilitating staking and other utility functions within the platform, and enabling users to unlock additional benefits and rewards.
Its seasoned leadership team combines decades of experience in traditional finance, digital assets, computer engineering, and compliance, working with top-tier global companies and Big 4 legal firms. Project advisors include Forbes-acclaimed influencer and marketer Brian. D. Evans and tokenomics expert Mark Mhilli. The Locked Money platform has been security audited by the Peckshield security audit firm.
Locked Money CEO Gediminas Butkus commented, “In a fiat system that has traditionally served very few participants, the rise of DeFi presents new potential for crypto investors to earn and consolidate wealth. But so many challenges from regulatory requirements to tax obligations can leave people feeling overwhelmed and underserved. Successfully raising over $1 million within a few weeks entirely organically shows the overwhelming support for Locked Money’s advanced solution and we can’t wait to bring our product to crypto investors around the world.”
About Locked Money
Locked Money is a disruptive trustless digital asset management platform that combines the benefits of custodial and non-custodial solutions to give users full control over their assets while offering sophisticated legal frameworks, tax benefits, and digital asset protection. The company addresses the challenges of the DeFi sector by providing a secure, tax-efficient, and user-friendly service that meets the rising needs of crypto investors. The platform offers a multi-signature solution and a four-tier subscription model powered by the $LMY token that facilitates staking and other utility functions.
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