Shake Defi aims to make cryptocurrency transactions safer

Brookfield-based fintech startup Shake Defi is developing a secure escrow platform designed to make cryptocurrency transactions as safe and straightforward as traditional online payments. Co-founder Matthew Anderson will introduce the company during the Elevator Pitch Olympics on Nov. 6 at the Early Stage Symposium, presented by the Wisconsin Technology Council.

Anderson, an experienced software developer, was inspired to create Shake Defi after a risky international purchase using Bitcoin. “I thought an escrow would be really great if that were a thing,” he said. “But it’s not a thing yet.”

Shake Defi’s platform provides an escrow-style payment system for cryptocurrency transactions that protects both buyers and sellers. The company’s smart contract technology ensures that funds are held securely until both parties agree the transaction is complete. If a dispute arises, an arbiter can release the funds to the appropriate party.

“The unique part is that we don’t have the ability to steal the money in escrow,” Anderson explained. “We aren’t the custodian of the funds. Coinbase is. Our company never holds the money, so we don’t need an escrow license.”

The system also promises to reduce transaction fees for merchants. Traditional credit card payments can cost businesses about 2.5% per transaction, while Shake Defi’s system aims to lower that to roughly 0.1%. Anderson noted that this significant reduction in fees could make cryptocurrency payments far more appealing for businesses.

One of Shake Defi’s first pilot tests will take place at Porsche San Diego, where a finance manager plans to use the platform for transactions. Anderson said the app could be particularly useful for large peer-to-peer purchases, such as used cars, where both trust and speed are essential.

The company was founded in January 2025 by Anderson and Thach Le, a former colleague who now serves as the company’s chief information officer. Anderson focuses on user interface and integration with Coinbase, while Le handles cloud architecture.

Anderson described Shake Defi as “the Venmo of Bitcoin with an escrow twist.” He expects a beta version of the app to launch by the close of the year and sees the Elevator Pitch Olympics as an opportunity to gain visibility among investors and partners in Wisconsin’s startup ecosystem.

“People who are just buying medicine for their cat or selling a car, they just want a safer way to use cryptocurrency,” Anderson said. “That’s what we’re building.”

With Shake Defi, he aims to make that vision a reality — starting in Wisconsin.