Kategorie: Crypto Business

Daily headlines and news about crypto business.

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Koinos announces $500K seed round led by Blockchain Founders Fund

  • Koinos is a free-to-use blockchain developed by a group that also helped create the Steem blockchain.
  • The Koinos Group said the Blockchain Founders Fund led the seed round, with blockchain gaming platform Splinterlands participating.
  • Koinos will use the funds to build Koinos Pro, a software product set to help developers build scalable decentralised applications.

In the latest cryptocurrency news, Koinos Group, the developer of the free-to-use blockchain Koinos, has announced a $500,000 seed round.

Blockchain Founders Fund leads Koinos seed round

According to a press release CoinJournal obtained on Thursday, Singapore-based early stage industry-focused venture fund the Blockchain Founders Fund led the seed round. The round also saw the participation of blockchain gaming firm Splinterlands.

“Blockchain Founders Fund is demonstrating leadership in the space as a whole by committing funds to a company whose entire business model is based on supporting a truly decentralised platform,as opposed to a platform that is decentralised in name alone,”said  Koinos Group CEO Andrew Levine.

The Koinos Group will use the funds to develop Koinos Pro, a subscription product that allows developers to release highly scalable decentralised applications (dApps). In a tweet on Thursday, the platform said Koinos Pro is a software that will help completely remove entry barriers to the dApps ecosystem.

Already, the Koinos blockchain allows developers to build and launch free-to-use dApps in any programming language, which means users can access high-performance apps as easily as is currently within the Web2 ecosystem.

Founded in 2020, the Koinos Group is a project overseen by several blockchain veterans – including a core developer group of the Steem blockchain.

The funding round comes just over two months after the Koinos mainnet went live, notably without involving an initial coin offering (ICO), pre-mine or airdrop to insiders and such. Koinos’ “Mana” system enables people without the native KOIN token to still access the blockchain.

The post Koinos announces $500K seed round led by Blockchain Founders Fund appeared first on CoinJournal.

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Deal Box launches $125 milllion venture fund to invest in Web3

  • Deal Box’s venture arm will invest in blockchain and Web3 startups.
  • Dubbed Deal Box Ventures, the investment unit will target projects in fintech, emerging growth, real estate, funtech and social impact.
  • Thomas Carter, the founder and Chairman of Deal Box, says the fund will also provide the tools and funding ecosystem startups need to succeed.

Deal Box, a US-based capital markets advisory platform, has launched a new venture fund that will invest $125 million in blockchain and Web3 technology startups.

A press release from the token offering firm noted that Deal Box Ventures will look at projects across five key fund areas – fintech, emerging growth, funtech, real estate and social impact.

“Deal Box Ventures is an important milestone in our journey to invest in the most promising and disruptive blockchain startups, providing them with the tools and funding ecosystem they need to be successful by simplifying and reimagining traditional financing models,” said Thomas Carter, the founder and Chairman of Deal Box.

Deal Box already invests in three key blockchain projects

According to the press release, Deal Box Ventures will target strategic investments aimed at unlocking the full potential of blockchain technology. The venture fund will thus focus on supporting projects leveraging the new technology to reshape and improve everyday lives.

These goals tie in with part of Deal Box’s Web3 investments in three key projects whose technology looks to solve issues around device identity.

Total Network Services is a platform offering UCID (Universal Communication Identifier), the first blockchain-enabled supply chain security service in the world. Deal Box has also invested in Rypplzz, a project that taps into the benefits of blockchain technology to connect digital and physical objects. Meanwhile, Forward-Edge AI aims to use Artificial Intelligence (AI) to improve human life.

The post Deal Box launches $125 milllion venture fund to invest in Web3 appeared first on CoinJournal.

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Floki partners with Binance Pay to boost Floki Shop adoption

  • Floki revealed the strategic partnership on Twitter and via a Medium post on Tuesday.
  • Binance Pay becomes Floki’s main crypto payments provider and will aid in a campaign to boost adoption of the merchandise store Floki Shop.
  • Customers can now buy items from the merch store using funds in the Binance Pay account.

Floki Inu has struck a strategic partnership with crypto payments provider Binance Pay, the cryptocurrency platform announced. 

Binance Pay is a payments feature in the Binance ecosystem. Floki, on the other hand, is popularly referred to as “the people’s cryptocurrency”, and its native token FLOKI was inspired by top meme coins such as Shiba Inu (SHIB).

Floki partners Binance Pay

Per a Medium post the Floki team published on Tuesday,  Binance Pay is now Floki’s official digital assets payments service provider. The Binance app payments feature will provide crypto payments for Floki Shop, a newly launched Floki merchandise store from where people can buy unique items, including fashion pieces.

With this partnership, Floki will also work with Binance Pay to boost further adoption of the merch store. According to details in the announcement, the two companies will look to achieve this via a strategic and coordinated marketing campaign.

Specifically, Binance Pay will feature the Floki store campaign on the payment provider’s homepage for a month. It will also include push notifications to millions of Binance Pay’s users across the globe, Floki added in the announcement.

Binance Pay allows for borderless and secure user-to-user crypto payments, with customers able to access the service from within the Binance app.

The post Floki partners with Binance Pay to boost Floki Shop adoption appeared first on CoinJournal.

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Iran and Russia are working on gold-backed stablecoin: report

  • Iran and Russia are reportedly eyeing a new stablecoin for cross-border trade, including in the Astrakhan special economic zone.
  • The stablecoin will be backed by gold, according to local Russian media outlet Vedomosti.
  • Both Iran and Russia are under tough international sanctions.

Iran and Russia are looking to launch a new stablecoin in the market, Russian news agency Vedomosti has reported.

According to the news outlet, there’s cooperation between the Central Bank of Iran and its Russian counterpart on a project that will see the two countries issue a new gold-backed cryptocurrency.

The stablecoin, targeted for the Persian Gulf region, will be used for cross-border transactions in the place of the US dollar, the Iranian rial and the Russian ruble. The digital asset is also specifically intended as a payment method in the Astrakhan area – an economic zone whose design helped Russia begin to receive cargo shipments from Iran.

The report quotes Alexander Brazhnikov, the Executive Director of the Russian Association of Crypto Industry and Blockchain as stating that the project is indeed in the works. 

Crypto in foreign trade transactions

The gold-backed stablecoin is indeed being worked on by the two nations even as they continue to face strict sanctions from the United States as well as other Western countries.

But notably, both Iran and Russia have allowed the use of crypto in foreign trade, with the Iranian government taking the step in August last year. As earlier covered by CoinJournal, Russia also considered cryptocurrency as a “safe alternative” for cross-border payments in August.

In December 2022, the Bank of Russia governor Elvira Nabiullina noted that the country was ready to allow cryptocurrency use for foreign trade only — the central bank was looking at this on an experimental basis.

Commenting on the latest report, Russian lawmaker Anton Tkachev said the reported joint stablecoin will proceed once Russia is able to fully regulate the digital assets market.  The country, which has toyed with crypto regulation bills for much of 2022, looks to get one over the line in 2023 following multiple delays.

The post Iran and Russia are working on gold-backed stablecoin: report appeared first on CoinJournal.

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Avalanche soars as Ava Labs announces Amazon partnership

  • Avalanche price soared more than 16% after Ava Labs announced new partnership with the Amazon Web Services (AWS).
  • Avalanche will launch validator tools and its Subnet deployment feature on the AWS Marketplace.
  • Ava Labs joins the AWS Activate and AWS Partner Network (APN).

Avalanche price jumped more than 16% on Wednesday afternoon after Ava Labs, the company helping to build the Avalanche blockchain, revealed a partnership with Amazon Web Services (AWS).

At the time of writing, the native token AVAX was trading at $14.93, up 16.6% in the past 24 hours. Avalanche is currently trading 31% up over the past week.

The upside for the AVAX token followed the Ava Labs and AWS partnership news, with the collaboration between the two companies set  to accelerate blockchain adoption for enterprises, institutions, and governments.

The partnership allows Avalanche users access to an easy infrastructure to deploy and manage nodes, the companies said.

Bringing Avalanche Subnets to AWS Marketplace

In a press release published on Wednesday, the companies said the collaboration will also strengthen the layer-1 blockchain network as well as increase its flexibility for developers.  

AWS will support Avalanche’s network infrastructure and decentralised applications (dApps) ecosystem, which will include one-click node deployment via the AWS Marketplace.

“I’m proud that we’ve implemented a protocol that can accommodate millions of participants with near-instant finality,” said Emin Gün Sirer, founder and CEO of Ava Labs. “Our work with Amazon can accelerate the positive impact of Avalanche,” he added.

The partnership also means Avalanche nodes can now run in AWS GovCloud, while Ava Labs joins the AWS Partner Network (APN) and AWS Activate, the latter helping bring the benefits of AWS to the Avalanche ecosystem.

“AWS Activate is an excellent resource for developers to bring apps to the masses with Avalanche’s trailblazing speed, security, and scalability at their core,” John Wu, President of Ava Labs, said in a statement.

With this affiliation, enterprises, institutions and governments can seamlessly launch custom Subnets, with the process involving only a few clicks, Avalanche wrote in a Medium post.

The blockchain platform will make this possible through integration of Subnet deployment, its scaling feature, as a managed service on the AWS Marketplace. Subnets help scale the Avalanche blockchain by diverting traffic, with users leveraging the functionality through the staking of AVAX.

AWS connects over 100,000 partners and is available in more than 150 countries.

The post Avalanche soars as Ava Labs announces Amazon partnership appeared first on CoinJournal.