San Francisco-based startup Ground ended its stealth mode on June 24, announcing the completion of $3.6 million in pre-seed funding, co-led by Bain Capital Crypto and ParaFi. Ground builds an API infrastructure that enables neobanks, wealth management firms, and asset managers to connect with on-chain yield protocols without needing to write blockchain code themselves.
Ground API integrates Aave, Morpho, Maple, and Kamino, running on multiple L2s
Ground's API currently routes funds through lending and structured credit protocols on Ethereum, Solana, and multiple layer-2 networks. The first four integrated protocols collectively represent tens of billions of dollars in on-chain assets, with the next step being the integration of liquid staking tokens. Target customers are neobanks, wealth management firms, exchanges, and asset managers, who can select suitable yield strategies based on clients' liquidity, duration, and risk needs.
Ground plans to monetize through a usage-based platform fee model, with specific rates yet to be announced. Cuming said in an interview with The Block: "The global asset management industry oversees over $147 trillion in assets, and there are several trillion dollars of funds sitting idle in prefunded accounts, neobanks, and blockchain wallets."
ParaFi closes $125 million venture capital fund, focusing on institutional on-chain finance
ParaFi closed a $125 million venture capital fund in March 2026, focusing on stablecoins, tokenization, and institutional on-chain finance. Its lead investment in Ground directly aligns with the fund's investment direction. Parth Chopra, Partner at Bain Capital Crypto, said that fintech companies and institutions are increasingly shifting their focus from stablecoins and tokenization to on-chain credit markets, as these markets can offer higher yields and lower borrowing costs. Chopra said: "Doing this today is no easy task."
The market Ground enters directly competes with yield aggregators, tokenization platforms, custody providers, and embedded finance companies. Cuming argues that differentiation lies in institutional infrastructure: compliance tools, reporting infrastructure, liquidity management, and configurable risk parameters, rather than merely pursuing the highest yield.
Ground currently has 3 full-time employees, plans to hire 2 to 4 more in engineering and marketing
Ground currently has 3 full-time employees and 1 contractor, and plans to hire another 2 to 4 people in engineering, marketing, and operations. Co-founder Reid Cuming previously co-founded tokenization company Superstate (which raised $82.5 million in Series B funding), and currently serves as a board member and senior advisor at Superstate, but is no longer involved in day-to-day operations.
Co-founder and CTO Sam Yoon previously served as Technical CEO of Braid, and before that led the engineering team at HIFI, providing hundreds of millions of dollars worth of cross-border stablecoin infrastructure support for hundreds of applications.
Frequently Asked Questions
How does Ground's API enable fintech companies to access on-chain yields?
Ground builds an API layer that routes fintech companies' customer balances to on-chain credit protocols (currently including Aave, Morpho, Maple, and Kamino), so fintech companies do not need to write blockchain code or build internal DeFi risk teams. The platform currently runs on Ethereum, Solana, and multiple layer-2 networks.
What is the structure and investor composition of Ground's funding round?
The $3.6 million pre-seed round was co-led by Bain Capital Crypto and ParaFi, using a SAFE agreement with token warrants and no board seats. Other investors include Nascent, Robot Ventures, Chapter One, and Consonant Ventures. The funding round was initiated in September 2025, closed in October of the same year, and publicly announced on June 24, 2026.
How does Ground differentiate from existing on-chain yield aggregators?
Cuming says the differentiation lies in institutional infrastructure: compliance tools, reporting infrastructure, liquidity management, and configurable risk parameters, rather than maximizing yield. These features are typically not available from crypto-native yield aggregators and are designed to meet institutional compliance requirements regarding KYC, AML, and financial regulation.
