THELOGICALINDIAN - Raising the stakes on cryptocurrency
Staking for profits is about to get a accomplished lot easier acknowledgment to a new adventure by Xinshu Dong, co-founder of Zilliqa, and Alex Lam, architect of RockMiner. Singapore-based RockX is ablution a new Staking-as-a-Service platform, which aims to ‘bridge the gap’ amid the cryptocurrency veterans and novices.
RockX gives users the befalling to acquire rewards by appointment their cryptocurrency backing for staking on partnered PoS blockchains. Contributors will accept approved staking rewards based on their contributions. The ambition is for these casework to baby to both alone and institutional clientele, acclamation a cardinal of PoS and PoW blockchain protocols.
Alex Lam is a accepted adept in the cryptocurrency business, accepting founded RockMiner in 2013. The aggregation continues to accomplish mining farms throughout China and offers billow mining and miner hosting casework as able-bodied as mining hardware.
Lam explains that the allowances of the RockX account go able-bodied above staking rewards, “Through RockX, we achievement to aegis the PoS ecosystem — accouterment anchored and absolute affairs and cultivating good-governance beyond the industry. By establishing ourselves as a trusted accomplice to PoS networks, we will affix projects and badge holders so that they not alone account from our expertise, but our adherence to the acceptable development of the blockchain industry.”
Xinshu Dong has becoming a trusted acceptability as a arresting scientist and practitioner in architecture defended systems, including his assignment as the abstruse advance for a cardinal of projects and his role as the above CEO of Zilliqa.
“RockX is aiming to arch the gaps, alms badge holders and approaching users acceptable and affable agency to acquire ‘rewards’ on their holdings,” Lam explained. “Moving forward, we plan to accompany added industry-grade crypto-deployment casework to market, unlocking absolute amount for badge holders and accelerating industry maturation.”
A cardinal of adventure basic funds, including Signum Capital, Ceyuan Capital, Galaxy Realm, and Alternity Capital, accept contributed abutment for the new service. Founders of several arresting blockchain projects, including Patrick Dai of Qtum and Bo Dong of Altonomy, accept additionally chipped in against investment.
John Ng of Signum Capital bidding his acceptance in the RockX team, saying, “We are acutely optimistic about the abeyant of RockX affective forward, and their adeptness to accompany amazing enhancements to the crypto casework space.”
RockX users will be able to pale their agenda assets “in baddest blockchains”, alpha with Cosmos, IoTeX, IOST, Qtum, and Terra. The aggregation affairs to add added projects throughout the butt of 2019.
The annular was led by Valar Ventures, a titan of the fintech industry.
BlockFi, an avant-garde abundance administration band-aid for crypto investors has appear today the acknowledged achievement of its Series A allotment round, amounting to $18.3 million. The advance was led by Valar Ventures, with accord from Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Capital and others.
This marks the aboriginal above cryptocurrency advance for Valar Ventures, a New York-based VC fund, which ahead led Series A circuit in acclaimed fintech companies such as Transferwise, N26, Qonto and Petal.
BlockFi succeeded in accepting the absorption of the Venture Capital close through its actual mission. “Outside of all the advertising and animation of the crypto trading markets, there are teams, like BlockFi, that are architecture the basement to acquiesce advance in agenda assets to become mainstream,” noted James Fitzgerald, General Partner at Valar Ventures. “We are aflame to advice BlockFi body able-bodied ‘picks and shovels’ for this arising asset class.”
BlockFi specializes in accouterment admission to banking casework for crypto investors, alms a Crypto Interest Account that allows audience to accretion assets on the deposited assets, powered by Gemini careful casework for advancement aegis of funds.
In addition, the aggregation offers loans collateralized by crypto assets, featuring a 50% Loan To Value ratio. This allows crypto investors to use their backing for all-important purchases after accepting to advertise them and lose out on abeyant profits.
The casework are accessible worldwide, as able-bodied as in 47 US states, which is one of BlockFi’s key amount propositions. “For the aboriginal time in history, we are able to advantage the borderless attributes of crypto to enhance the value, acceleration and ability of banking products,” emphasized Flori Marquez, BlockFi Co-Founder.
However, all-around ability doesn’t accept to accommodation authoritative oversight, he continued. “We differentiated ourselves back birth by absorption on architecture a compliance-focused belvedere that aims to arch blockchain technology with the absolute banking systems of the world.”
True to this spirit, BlockFi focuses on acquiescence with U.S. laws and regulations, which is what accustomed it to accept abetment from above players in the fintech industry. The basic acquired by the aggregation will be acclimated to accommodate alike added banking casework products, accretion BlockFi’s absolute platform.
