Blockchain
Lightnet Receives $50 million capital commitment from LDA Capital to Boost Velo Blockchain Technology
The Lightnet Group (“Lightnet”) announced today it has secured a $50 million capital commitment from LDA Capital Ltd (“LDA”) to grow its infrastructure, operations, and expand its technological partner’s (Velo Labs Technology) blockchain technology. Lightnet will have the option to increase the $50 million to a total commitment of up to $100 million over the next three years. The funds will be utilized to facilitate web 3.0 payment and blockchain ledger-based remittance services focused across Asia Pacific and globally around the world.
“Lightnet’s next generation financial infrastructure, along with Velo Labs’ disruptive technology, will be the future rails for dynamic and regulated markets providing financial mobility and inclusivity across Asia,” commented Warren P. Baker III, Managing Partner, and Co-Founder at LDA Capital.
This investment will allow the Lightnet Group to boost growth in the payment and remittance space, expanding operating corridors and opportunities, obtaining licenses – enabling a transition of existing payment and remittance systems towards new technology and building the #1 CeDefi banking network in Asia through its licensed subsidiaries and its continuously growing number of partners. LDA’s capital commitment will also be utilized to increase internal operations including hiring of employees from around the globe to support the expansion of Lightnet’s ecosystem. Lightnet also intends to utilize part of the funds to develop Velo Lab’s existing technology and contribute to the growth of Velo anchors, remittance partners and liquidity providers, and assist the blockchain company with enhancements of its team by hiring key management officers and developers.
“We’re thrilled with this partnership and are so glad that LDA Capital recognizes the value of the new generation remittance services. This investment will allow us to grow and expand our infrastructure, which partners can participate in and grow business solutions. Our unique architecture makes the solution accessible and attainable for anyone to adopt the service.” stated Tridbodi Arunanondchai, Co-Founder & CEO of Lightnet.
The Lightnet Group is a Singapore headquartered fintech group with several licensed subsidiaries around the globe dedicated to improving the lives of the unbanked and underbanked populations throughout Asia Pacific, through its revolutionary advancement in cross-border remittance infrastructure.
Leveraging technology from Lightnet’s close partner Velo Labs, the project intends to be the first, real-time blockchain settlement flow for remittance and payments between Money Transfer Operators (MTOs) and banking institutions under regulatory supervision and support. The group intends to pilot programs that enable remittance backed by distributed ledger technology through multiple channels including the use of stable coins, bypassing the traditional SWIFT settlement process and thus reducing the need for high costs of pre-funding that currently dominates traditional cross-border payment flows. The goal of this project is to demonstrate how the emerging blockchain technology offered by companies like Lightnet’s technology partner Velo Labs can be used in harmony with Lightnet’s existing infrastructure, to enhance and complement remittances in a regulated and secure environment.
Additionally, with the assistance of Velo Labs cutting-edge technology, who are focused on building plug-and-play, blockchain-based remittance solutions, Lightnet will effortlessly be able to connect to a multitude of payment partners across the globe, making the remittance ecosystem and payment options more affordable and accessible to businesses and customers alike.
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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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