Newity Secures $11 Million to Develop Blockchain Lending Platform

Newity, a fintech company, has successfully raised $11 million in a funding round led by CMT Digital. According to NS3.AI, the firm aims to utilize the funds to create a blockchain-based lending platform specifically designed for small and medium-sized businesses. While the details regarding other investors participating in the round remain undisclosed, Newity's initiative highlights the growing interest in leveraging blockchain technology to enhance financial services for smaller enterprises.