Diem team members raise $200M to launch blockchain derived from it
“Since departing Meta (formerly Facebook) we have been able to put our ideas into motion, ditch bureaucratic red tape, and build an entirely new network,” Aptos stated. Former Meta employees and key players behind the firm’s defunc stablecoin project Diem have raised $200 million to expand a new project dubbed “Aptos.”Aptos was cofounded by former Novi — Meta’s crypto unit — strategic partnerships lead Mo Shaikh and tech lead Avery Ching. The duo arenow serving as the CEO and CTO for the new firm. Both left the company in December, prior to Diem being sold to Silvergate Capital in February....
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Facebook-backed cryptocurrency project Diem, formerly Libra, is moving from Switzerland to the U.S. In collaboration with Silvergate Bank, the association, which oversees the development of the diem cryptocurrency, has unveiled a new launch plan. Facebook-Backed Stablecoin Has New Launch Plan The Diem Association announced Wednesday a partnership between Diem Networks U.S. and Silvergate Capital Corporation (NYSE: SI). Silvergate is a California state-chartered bank and a member of the Federal Reserve. Diem Networks U.S. is a wholly-owned subsidiary of the association. It plans to register....
When Facebook announced its Diem blockchain project, many people got excited. But unfortunately, it is a system that remains a closed loop, which is unfortunate despite the ecosystem’s potential. The team behind Pontem Network aims to change this narrative by creating a permission-less version of Diem. Pontem Network Complements Facebook’s Diem The vision of Pontem […]
The cryptocurrency proposed by social media giant Facebook is gearing up to launch using a “phased approach,” its co-creator explains. The Diem Association, which oversees the crypto’s development, has been in talks with regulators to obtain a license. Diem Updates Launch Plan The Facebook-backed cryptocurrency “diem,” formerly called libra, is taking a “phased approach” to launch, co-creator and chief economist of Diem, Christian Catalini, told CNBC in an interview published on Tuesday. The Switzerland-based nonprofit Diem Association, which....
The big question is whether or not R3 CEV can raise enough capital in the first place, although various consortium members have inquired as to how much capital is needed. Nearly everyone in the world of Bitcoin and blockchain technology will have heard of R3 CEV by now, as the consortium is backed by a lot of major banks around the world. This outfit is now looking to raise $US200 million for a new round of blockchain trials, assuming the participating banks are willing to part with their money. The R3 CEV Hunt for $USD200m in Funding. Actively exploring the boundaries of blockchain....
An anonymous source has told reporters that the first Diem pilot will focus on transactions between individual consumers. Facebook-backed digital currency project Diem could yet launch its first stablecoin in 2021 as a small-scale pilot, according to an anonymous source. Cited in a CNBC report published on April 20, the source claimed that the Switzerland-based nonprofit The Diem Association is still intending to launch its pilot for a United States dollar-backed stablecoin later this year. Back in Nov. 2020, the association had already announced its plans for a limited launch of a....