Hashed, certainly one of South Korea’s largest crypto asset fund managers, has raised 120 billion received ($110 million) to fund new blockchain ve
Hashed, certainly one of South Korea’s largest crypto asset fund managers, has raised 120 billion received ($110 million) to fund new blockchain ventures within the so-called “protocol financial system.”
The funds have been raised through Hashed Ventures Inc., a brand new entity that can oversee the deployment of the nine-figure funding. The corporate has but to reveal its backers, although a spokesman indicated that a few of South Korea’s largest IT corporations are concerned.
Within the announcement, the corporate stated:
“Hashed plans to take a position closely in home and abroad startups that wish to notice the’protocol financial system,’ which has lately emerged as a scorching subject, in addition to expertise corporations within the blockchain discipline via the formation of this primary fund.”
The fund will spend money on home and international startups using blockchain expertise to disrupt the “protocol financial system,” a broad umbrella time period that describes rising platforms and purposes.
Based mostly in Seoul and Silicon Valley, Hashed markets itself as a group of blockchain consultants pushing the needle on decentralization. The corporate’s funding portfolio contains dozens of crypto corporations, together with notable blockchain tasks like Ethereum, EOS, Ontology, ICON and Kyber Community.
The corporate’s investments are at present unfold throughout blockchain platforms, monetary infrastructure, purposes, pick-and-shovel performs and publishing.
South Korea has emerged as a hotbed of blockchain improvement and digital asset markets regardless of authorities crackdowns on preliminary coin choices and home exchanges. Not too long ago, the nation’s influential crypto foyer was profitable in delaying a brand new tax regime on digital property till 2022, giving native companies extra time to adapt to the foundations.
Hashed didn’t instantly reply to a request for remark.