GEM Digital Invests $50 Million In ParallelChain Lab’s Mainnet Development
Ahead of ParallelChain mainnet launch, GEM Digital Limited, a digital asset investment, has reportedly invested $50 million into the firm. The investment is targeted at the ParallelChain Lab Layer-1 protocol development project. The blockchain industry keeps growing in strength as more funds enter the industry. The DeFi community is one part of the blockchain industry […]
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As a proof-of-stake layer-1 protocol, ParallelChain intends to deliver an architecture that operates in confidentiality while allowing to validate transactions. Digital asset investment firm GEM Digital Limited (GEM) has committed $50 million to finance ParallelChain Lab following the launch of its mainnet and native token listing, XPLL, in Q4 2022.As a proof-of-stake (PoS) layer-1 protocol, ParallelChain aims to bridge the infrastructure divide between centralized (CeFi) and decentralized finance (DeFi). The soon-to-be-launched ParallelChain Mainnet is open source and based on a PoS....
On December 23, 2020, the Canadian financial tech firm Mogo announced its plans to invest 1.5% of the company’s reserve assets into bitcoin by the year’s end. Mogo’s president and CFO said the initial corporate investment of up to $1.5 million in bitcoin builds on the company’s product development related investments in bitcoin during the last few years. Ever since Microstrategy purchased bitcoin to replace a percentage of the firm’s cash reserves, a large swathe of companies followed the bitcoin balance-sheet model. At the time of publication, there are now....
On August 31, 2021, Offchain Labs announced the official launch of Arbitrum One mainnet and further detailed that the company has raised $120 million in funding. The Series B financing led by Lightspeed Venture Partners gives the firm a $1.2 billion valuation. Arbitrum One Mainnet Is Now Live, Offchain Labs Raises $120 Million in Funding The highly anticipated Arbitrum One mainnet launch has been revealed by the firm Offchain Labs and the startup also detailed the company has raised $120 million in financing. Bitcoin.com News has written about the Arbitrum One Layer-2 scaling solution on a....
This project is continuing to build momentum three years after their token sale. After securing millions of dollars via an initial coin offering in 2017, decentralized data housing platform Filecoin now aims to launch its mainnet.Filecoin will move over to its own blockchain in stages, rather than all at once, according to a Sept. 27 blog post. "Launching a blockchain is an involved and lengthy process," the post said. "Like many other networks (including Polkadot, NEAR, and others), Filecoin is taking a phased approach to launching mainnet, with different groups and communities onboarding....
The Brooker Group has reportedly become the first publicly listed company in Thailand to hold bitcoin on its balance sheet. The company has disclosed that it has bought 122.3158 bitcoins worth $6.6 million or 200 million baht. Thai Public Company Invests in Bitcoin The number of public companies investing in bitcoin is growing worldwide. In Thailand, The Brooker Group (BROOK) has become the first listed company in the country to announce its cryptocurrency holdings, the Bangkok Post reported Thursday. The Brooker Group provides independent advisory services to private and public sector....