From just an idea on paper, The Whitepaper, an entire industry was born. The term Digital Asset didn’t exist but now, with some 8,000+ projects and that number increases by the week, we have an industry that money is pouring into, building the future that will digitize everything. The money will go to work to build apps, increase mining operations, and support companies helping to increase access to Digital Assets.
Biconomy raises $1.5M in a seed funding round led by European venture capital group Eden Block for a bid to simplify Blockchain transactions. They are transforming dApps for everyday users. When you think about it, apps on our mobile devices run our lives; this will hopefully do that in a more secure and decentralized way, as reported by Coindesk.
Biconomy is not alone. Blockchain startup Conflux has received an over-$5M research grant from the Shanghai Science and Technology Committee and Xuhui District government, as reported by Coindesk. Conflux is an open network for an emerging world of digital assets and decentralized applications.
South Korea’s Shinhan Bank has invested in a crypto custody service Korea Digital Asset Trust backed by local crypto exchange Korbit. Creating better custody solutions will ensure mass adoption; it’s only second to regulation, as reported by Cointelegraph.
Diginex $38M Private Placement Offering (PPO) to boost investments in its Digital Assets, as published in BTCManager. Just imagine the impact this will have on furthering the acceptance and adoption of Digital Assets globally. In addition, Bitfarms closes its second $15M Private Placement in a week. Bitfarms is a blockchain infrastructure company that operates one of the largest Digital Asset mining operations in North America.
Fidelity International Invests $6M in BC Technology Group which operates BC OSL, the first licensed Digital Asset exchange in Hong Kong.
Yogita from The Block reports that Ribbit Capital and Paradigm lead $15M Series A for Indian crypto exchange CoinSwitch Kuber. Exchanges are key to the overall ecosystem because it’s one of the primary ways dirty fiat gets exchange for Digital Assets. Without these onramps, access would be much more challenging.
Arca secures $10M in Series A funding as traditional financiers back Digital Assets.
This week along more than $75M have been shifted into this rapidly growing ecosystem and the impact will be felt many months away. However, I believe once they are - it will send shockwaves throughout the financial world, once again clearly demonstrating that the entire financial industry is getting rebuilt on top of Blockchain.