Private blockchain Vostok makes waves with $120m funding – FinTech Futures

- Advertisement -

Waves Platform, a public blockchain platform, has got $120 million funding to launch its private blockchain platform and system integrator, Vostok.

The Vostok project has been developed specifically for large enterprises and public institutions to build their digital infrastructure.

The first funding round pushes Vostok’s value up to $600 million, with a second round expected in early 2019.

The firm expects to launch the first projects in Europe and Asia early this year.

Founder and CEO of the Waves Platform and the Vostok project, Sasha Ivanov, says: “The Vostok project lies at the intersection of several disruptive technologies, including blockchain, big data, artificial intelligence and the industrial internet of things.”

- Advertisement -

He adds: “By implementing those in the IT infrastructures of corporations and government agencies, we lay the foundation for the digital economy.”

Investors in Vostok’s key target markets were approached to participate in the first funding round.

The company is looking for investors that can provide capital, but also the “expertise and motivation” to help further the project.

- Advertisement -

London-based financial services group Dolfin coordinated both the structuring and execution of the deal.

source

Previous Articles:

- Advertisement -

Latest

AUSTRAC Imposes $5,000 Limit on Crypto ATM Cash Transactions

Australia introduces a $3,250 limit on crypto ATM cash transactions to address rising scam activity. AUSTRAC sets new rules for crypto ATM operators, including enhanced...

Ethereum Foundation Lays Off R&D Staff Amid Protocol Restructuring

Ethereum Foundation has laid off some research and development staff as part of a restructuring.The organization is renaming its Protocol Research and Development division...

Hyperliquid Trader James Wynn Gambles Donations, Faces Losses Again

Crypto trader James Wynn used over $20,000 in donations to fuel a high-risk bet on the Hyperliquid exchange. The funds boosted his $100 million Bitcoin...

Circle Upsizes IPO, Targets $7.2B Valuation After Ripple Bid Fails

Circle has increased both the number of shares and the price range for its planned IPO in a new SEC filing.The company now targets...

TRON Leads Real-World Stablecoin Payments as Tether Dominates Use

Stablecoin real world payment volume reached an annualized $72 billion in February, according to Artemis.Business-to-business (B2B) payments made up half of the $6 billion...

Must Read

Are Cryptocurrency Securities?

TL;DR - Cryptocurrencies are not typically considered securities, as they are decentralized digital assets that operate independently of any central authority or government. However,...