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Quant makes blockchain free to all businesses with new pricing plans

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Quant, a specialist in blockchain for finance, has launched new pricing plans and functionality aimed at enterprise IT users and developers tasked by their business lines with implementing blockchain technology as part of their organisation’s wider digital asset strategy.

The Overledger blockchain platform updates are designed to empower enterprise project teams, architects and developers from any sector or size to test, build and deploy on the same interoperable distributed ledger technology already trusted by central banks, commercial banks and large corporates to accelerate their digital asset strategy.

For the first time, Overledger is now available via a fully functional, time-unlimited free plan to allow institutions to easily adopt an increasingly popular technology while creating new revenue streams, making complex workflows more efficient, reducing legacy costs and enabling access to new markets and clients. The new plan is the most powerful free blockchain plan available for any enterprise looking to execute their digital asset strategy; it enables IT end-users and developers to fully test their concepts, build business applications, connect their existing systems and tokenise then launch interoperable digital assets of any type.

For those that want to start deploying on a mainnet blockchain or run more complex proofs of concept or projects with multiple counterparties and networks, Overledger offers two new, self-serve SaaS plans at $179 and $379 per month respectively. These new Overledger plans – unlike blockchain infrastructure products that are aimed solely for node hosting or siloed dApp development, aren’t capable of serving regulated financial institutions and central banks, provide limited functionality, and charge by transaction or volume – are available for just a flat monthly fee, giving customers clarity on their costs and IT budgets.

Gilbert Verdian, founder and CEO, said: “We believe that anyone who wants to build a business in the blockchain economy should be able to do so using technology that has been tried and tested in the most demanding of use cases: regulated financial services.

“That’s why these new plans and features meet the demands of IT decision makers: they’re an accelerated go-to-market for enterprise IT and developers to choose the best technology and delivery solutions for their business lines at speed – using the same ‘grown up’ tech already used by institutions like central banks and their commercial counterparts, securities issuers, and asset managers.”

Natasha Boyton-West, head of product – platform, said: “Until now, businesses have struggled to capitalise on the benefits of blockchain because it’s a complex technology requiring specialist skills and different blockchains are not interoperable with one another. Overledger changes all that. It’s easy to use, continually enhanced, and integrates seamlessly with your existing systems and new networks alike. That’s how it makes blockchain simple, trusted, and future-proof.”

As before, bespoke enterprise plans – backed by comprehensive service level agreements, dedicated infrastructure and all the specialist expertise of the Quant team – are also available for clients that are ready to put their blockchain solutions into mainstream production.

Overledger now comes with powerful new enhancements across the board too, including:

  • Blockchain platform as a service: A simple way for users to run their own dedicated blockchain testing environment with complete security and privacy.
  • Smart contract API: Users can now deploy and launch any smart contract on any chain with ease.
  • Transaction signing: There is no need to set up key management solutions to sign test transactions; it’s now built-in at platform level.
  • Secure transactions: All transactions are co-signed with an additional level of security expected by enterprise security.
  • Agents: Both Make and Zapier integrations are available for Overledger, enabling powerful code-free automation with any blockchain.

Source: blockchaintechnology-news.com

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Blockchain

Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing

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Global Supply Chain Finance Market

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Blockchain

Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest

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Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.

The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.

While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.

Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.

A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.

Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.

Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.

Source: cryptonews.com

The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

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ASIC cracks down on blockchain mining firms

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Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.

According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.

The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.

ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.

In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.

While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.

Source: iclg.com

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