Polymarket Acquires DeFi Infrastructure Startup Brahma

Polymarket has announced the acquisition of Brahma, a startup specializing in cryptocurrency and decentralized finance (DeFi) infrastructure. According to Foresight News, the financial details of the transaction have not been disclosed. The acquisition aims to enhance user experience by streamlining processes such as wallet creation, asset deposits and conversions, and result token exchanges. Brahma's expertise in the DeFi sector is expected to bring increased liquidity to niche contract markets. Founded in 2021 by Alessandro Tenconi, Akanshu Jain, and Bapi Reddy Karri, Brahma has provided DeFi infrastructure services to both businesses and individuals, handling transactions exceeding $1 billion. Following the acquisition, Brahma will cease its existing projects with other partners.