Blockchain
Australian Fintech Nauticus Targets $25 Million in Equity Raise
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Melbourne fintech Nauticus Blockchain has targeted a $25 million equity raise to fulfill its vision for low cost, borderless financial transactions.
The company launched in 2018 and has amassed a 50,000 strong community across Facebook, Telegram and Twitter, who help guide the development of its products. Trading on its digital currency exchange went live in the fourth quarter of last year. It now offers 17 currencies and AUD with more added each week.
The funds raised will enable Nauticus to onboard 2.9 million users by 2022 and support an extensive cross-platform marketing spend, cross jurisdiction banking and financial licenses and to expand the team internationally. Conservative discounted cash flow analysis values the business post raise at $74.2 million.
“We urge people who share our vision of ethical, low cost and borderless finance to join us on this journey,” CEO Bryan Ng said.
The head of accounting firm First Accountants, Ng founded the company after watching his overseas born staff members struggle with high fees as they wired money to their families.
“Imagine what a difference it would make in a developing country if 100% of the money arrived in the local economy, rather than 90-95% after the wire transfer companies have taken their cut,” he asked.
With 280,000 accounts in 84 countries around the world, Nauticus is well on its way to becoming Australia’s first globally focused digital currency exchange. The team draws talent from National Australia Bank (AUS), ANZ (AUS), Goldman Sachs (UK), Bank of Melbourne (AUS), Accenture (USA), News Corp (AUS) and Telstra (AUS).
Nauticus is built on the twin foundations of security and compliance, a key requirement as the company moves into securities trading, FOREX and international remittances later this year. Nauticus is regulated by AUSTRAC and is an authorized representative of an AFSL licensee, enabling it to tokenize assets and company shares.
The intuitive mobile app has just been submitted to the Google Play store. Based on the Easy Trading Wizard, it aims to making trading digital currencies, FOREX and international payments as simple as possible for newcomers.
SOURCE NAUTICUS
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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