Polymarket acquires crypto startup Brahma as prediction platform looks to boost liquidity: Fortune
Polymarket has acquired the crypto payments startup Brahma, according to a report from Fortune on Wednesday.
The deal's value was not disclosed, but Polymarket said the move is expected to improve the prediction platform's user experience, per the report.
For one, Brahma could help bolster liquidity for lower-profile bets on Polymarket that do not attract the larger pools of capital seen in major sporting events or elections.
Thin or limited liquidity can act as a hidden tax, eroding returns through slippage on both entry and exit. What users can wager on using Polymarket is nearly limitless; however, most volume is concentrated around high-profile events like 2024's presidential election or championship sporting contests.
Brahma co-founder Alessandro Tenconi told Fortune his startup could remove friction felt by Polymarket users when "creating a wallet, depositing and converting shares, and redeeming outcome tokens."
Tenconi's startup was founded in 2021 and has "processed more than $1 billion in transactions," according to the report.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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