Blockchain
HashQuark Closes Series A Funding Round, Led by Qiming Venture Partners
HashQuark, an Asian leading staking and blockchain infrastructure provider, has raised a Series A equity funding led by Qiming Venture Partners, a leading venture capital firm in China. The funding round was also joined by Fenbushi Capital, HashKey Capital, Hash Global, imToken Ventures, and SNZ. This move makes HashQuark one of the very few staking service companies to be able to raise a fund from a traditional venture capital firm. HashQuark is a subsidiary of HashKey Group, an international digital asset and blockchain technology firm.
Since the end of 2018, HashQuark has been developing its blockchain infrastructure business, creating value while safeguarding PoS blockchains by operating reliable nodes. Relying on its abundant industry resources and a professional technical team, HashQuark has become one of the world’s largest staking service providers. For reference, “staking” refers to the activity of supporting a PoS blockchain network by validating its transaction and receiving rewards in return.
Through its globally deployed infrastructure and its always-on staking service network, HashQuark offers secure, stable and convenient enterprise-grade staking services, running blockchain nodes for over 30 Proof-of-Stake (PoS) blockchains. According to StakingRewards.com, one of the world’s most credible PoS rating websites, HashQuark consistently ranks among the top three in terms of the number of networks served, product functionality, business footprint, product safety, and comprehensive capabilities.
In addition, HashQuark pioneered the concept of “Staking + ecosystem provider”, aiming at providing high-quality PoS-backed blockchain projects with industry resources and ecosystem value along with technology support. This move has earned strong support from many project foundations.
For example, HashQuark, as one of the earliest participants of the Web3 ecosystem, is a validator (staker) on the Polkadot network validator node list, and has helped the Web3 Foundation launch PolkaCube, a new product focused on enabling a better staking experience for validators and nominators of the Polkadot ecosystem. Its features include complete blockchain data display, guidance on optimal staking strategies, wallet and delegation management, and more. HashQuark’s PolkaCube won a grant from the Web3 Foundation.
HashQuark, in addition to its product development team, has a professional research team focusing on economic models and blockchain technology, which has produced dozens of influential technical articles and in-depth research reports, contributing to communities such as Ethereum, Polkadot, Filecoin, and Cosmos.
HashQuark has strategic partnerships with a number of world-leading blockchain teams, including imToken (a world-renowned decentralized blockchain wallet), Infinito Wallet (a well-known blockchain wallet in Vietnam), Block72 (a well-known blockchain consulting company in South Korea), LongHash (an accelerator platform), SlowMist Technology (a top cybersecurity team). HashQuark is providing high-quality services to the ecosystem businesses of HashKey Group.
Leo Li, CEO of HashQuark, said, “HashQuark started as a staking service provider with the focus on blockchain infrastructure construction, aiming to provide high-quality services to the digital financial world. The proceeds of the round will be used to strengthen our team and expand globally. This year is a critical time for the large-scale application of blockchain and digital finance. HashQuark will release innovative products to serve customers around Ethereum2.0, Polkadot, and PlatON and so forth. HashQuark will put digital financial world infrastructure as a core focus and launch other products successively.”
Qiming Venture Partners has been an active early-stage VC investor in sectors including information technology, enterprise services, among others. Qiming has good track record of investing in innovative startups which would later achieve unicorn status. Qiming’s investment in HashQuark, an IT infrastructure service provider in the blockchain industry, shows its interest in the emerging field.
Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain
Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR
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