PANews reported on February 11 that according to Fortune magazine, decentralized financial platform Legends announced its first round of financing, raising US$15 million from Andreessen Horowitz (a16z) and Coinbase Ventures.

According to reports, Legends was launched by Jayson Hobby, the former CEO of Compound, and two other former Compound executives, and will improve on the foundation they and their colleagues built at Compound. Legends will provide users with decentralized financing instead of forcing them to log in to multiple different applications to use their cryptocurrencies. The company's current focus is on getting listed on the Apple App Store and building a reliable user base. In the future, Legend plans to generate revenue through subscriptions.