Blockchain Press Releases
Venture Capital Fund Manager Token Bay Capital Granted In-Principle Approval To Invest In Tokens With First of Its Kind License in Abu Dhabi Global Market (ADGM)
- License will permit investment in both the equity and tokens of crypto start-ups
- Opening of Token Bay’s new offices in ADGM aligns with planned second fund
ABU DHABI, UAE, April 18, 2024 /PRNewswire/ — Token Bay Capital Limited (“Token Bay”) is expanding its venture capital footprint in the capital of the UAE and has been granted an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) to carry out regulated activities in the ADGM. Subject to final regulatory approval for the grant of the Financial Services Permission (FSP), Token Bay brings niche capabilities to manage both token and equity investments in early-stage crypto start-ups under the FSRA’s Venture Capital Fund Manager (VCFM) framework.
Founded in 2021, Token Bay is a leading Crypto Venture Capital Fund that has adopted a regulatory-first approach from day one. Token Bay invests in start-ups building next-generation blockchain infrastructure and decentralized applications for Web3. Building on the success of its first fund, Token Bay is now launching its second fund and will continue to back outstanding entrepreneurs building infrastructure solutions for the new token economy. In addition to Abu Dhabi, Token Bay also has offices in Hong Kong, and is strategically positioned across digital assets hubs in both the Middle East and Asia.
Founder and Managing Partner of Token Bay, Lucy Gazmararian: “This marks the first phase of global expansion for Token Bay, and we’re excited to have been granted the IPA in ADGM for venture capital investment in tokens as well as in equity. Blockchain technology has the potential to drive innovation through tokenization, and as blockchain networks continue to evolve, it is important that as venture capitalists we are fully equipped to support talented founders building in Web3 by directly participating in these networks and taking an ownership stake through tokens. We extend our sincerest thanks to the regulator for their forward-thinking approach and open dialogue so that we were able to reach this important milestone and establish Token Bay in one of the world’s leading international financial centres and digital assets hub.”
ADGM’s progressive regulatory framework, English common law legal framework, status as a leading centre for financial innovation and vibrant blockchain and digital assets ecosystem have attracted Token Bay to set up offices in the capital of the UAE.
Arvind Ramamurthy, Chief of Market Development at ADGM said, “We extend a warm welcome to Token Bay Capital as they join ADGM’s international financial centre and commence their establishment in Abu Dhabi, marking the beginning of their global expansion journey. ADGM is dedicated to cultivating innovation and excellence in the financial sector, particularly within the virtual asset space. With progressive regulatory frameworks that facilitate companies like Token Bay Capital, ADGM’s vibrant ecosystem stands as the optimal platform for initiating their global growth trajectory.”
Token Bay’s Venture Funds offer institutions, multi-national companies, private banks, family offices and high-net-worth individuals the opportunity to invest in an emerging asset class right at the start of a multi-decade cycle.
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MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
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PollBits is redefining crypto trading standards with its industry-leading features and services. This platform is making waves in the cryptocurrency trading space by offering innovative solutions and setting new benchmarks for excellence.
PollBits stands out from other crypto trading platforms by introducing cutting-edge features and services that cater to the needs of traders and investors. By prioritizing user experience and functionality, PollBits is enhancing the trading experience and empowering users to make informed decisions in the dynamic cryptocurrency market.
PollBits’ commitment to excellence and innovation is driving its success and setting it apart as a leader in the industry. With its focus on providing industry-leading features and services, PollBits is positioning itself as a go-to platform for traders seeking a reliable and user-friendly trading experience.
Overall, PollBits’ redefinition of crypto trading standards underscores the rapid evolution and maturation of the cryptocurrency industry. As platforms like PollBits continue to push the boundaries of innovation, traders and investors can expect greater accessibility, transparency, and efficiency in cryptocurrency trading, ultimately contributing to the growth and adoption of digital assets worldwide.
Source: cryptonews.com
The post Pollbits Redefines Crypto Trading Standards with Industry-Leading Features and Services appeared first on HIPTHER Alerts.
The presale for Fantasy Metaverse Darklume is now live. This development marks a significant milestone for the project, signaling its progression towards launch and the realization of its vision for a fantasy-themed metaverse.
Fantasy Metaverse Darklume aims to create an immersive virtual world inspired by fantasy themes, offering users the opportunity to explore, interact, and engage with others in a digital environment. The presale phase represents an early opportunity for participants to acquire tokens associated with the project, potentially securing access to exclusive benefits or privileges within the metaverse once it is fully operational.
The launch of the presale underscores the growing interest in metaverse projects and their potential to redefine how people interact and socialize in virtual spaces. As the concept of the metaverse continues to gain traction, initiatives like Fantasy Metaverse Darklume are poised to play a significant role in shaping the future of digital experiences and entertainment.
The presale for Fantasy Metaverse Darklume represents an exciting opportunity for investors and enthusiasts to get involved in a promising project at an early stage. As development progresses and the metaverse evolves, participants can look forward to a new realm of immersive experiences and creative possibilities in the digital landscape.
Source: the-blockchain.com
The post Fantasy Metaverse Darklume – Presale is LIVE appeared first on HIPTHER Alerts.
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