DeBank, a crypto wallet dedicated to DeFi solutions, has reportedly received fresh capital injection via a concluded funding round, led by major venture capital company Sequoia China.

Specifically, the company reportedly took to Twitter to disclose its success in securing $25 million, bringing DeBank’s overall valuation to $200 million.

Apart from Sequoia China, the funding round reportedly also saw participation from numerous high-profile crypto investment companies, nominally Dragonfly, Hash Global, and Youbi.

The raise further covers strategic funding from Coinbase Ventures, Crypto.com exchange, stablecoin provider Circle, and hardware wallet maker Ledger.

DeBank reportedly functions as a crypto wallet built with the purpose of tracking DeFi data, including decentralized applications or exchanges (DEX) and DeFi interest rates.

It also offers users the power of navigating and managing a variety of DeFi assets and projects. The platform reportedly comes with analytics for decentralized lending protocols, stablecoins, margin trading platforms, and others.

At the time of writing, DeBank reportedly equips users with the power to track 798 protocols throughout 17 chains such as Ethereum, the Binance Smart Chain, Polygon, Fantom, Avalanche, and others, according to its website.

DeBank was reportedly co-established three years ago (2018) by a China-based research and development expert Tang Hongbo. Per insights visible on his LinkedIn profile, the exec is based in Shanghai’s Jing’an district.

The concept of decentralization and DeFi has reportedly been accumulating interest in China, during the time the nation is imposing new restrictions.