Investment and Partnership Highlights of the Week: $2M for Satoshi Protocol, Auros Ventures’ $50M Commitment to Crypto Startups, and Partior’s $60M Support from Banking Giants
In Brief
The Web3 ecosystem has seen great investment activity and strategic partnerships, showcasing the growing interest in blockchain technology and its potential to revolutionize finance, data management, and cross-chain interoperability.
This week, the Web3 ecosystem witnessed a flurry of investment activity and strategic partnerships, highlighting the continued growth and innovation in the blockchain and cryptocurrency space. From substantial funding rounds for stablecoin protocols to ambitious venture capital initiatives, the industry is seeing a surge of capital inflow across various sectors. These developments underscore the increasing mainstream interest in blockchain technology and its potential to revolutionize finance, data management, and cross-chain interoperability.
Successful $2 Million Seed Funding Round for the Satoshi Technology
The stablecoin Satoshi Protocol, which is a part of the Bitcoin ecosystem, has declared the conclusion of its initial funding round. This round of funding, which has a total value of US$2 million, is being led by CMS Holdings and RockTree Capital, with participation from angel investors Paul Taylor (ex-BlackRock), Yenwen Feng (Perpetual Protocol) and the others.
A leading cross-chain infrastructure technology called Router Protocol uses Chain-Abstraction to provide smooth communication across blockchain networks. Its main product, Router Chain, offers decentralized applications and a safe and effective Chain-Abstraction framework to take use of cross-chain features.
In the Next Two Years, Auros Ventures, a Cryptocurrency Trading Company, Intends to Invest More Than $50 Million in Early-stage Digital Asset Startups
The company has named Julien Auchecorne, who was formerly employed by XBTO International and Brevan Howard, as the head of the new ventures section. Over the previous quarters, Auros Ventures has already put “nearly $20 million” into a number of ventures, including Pyth and Berachain. After being impacted by FTX’s collapse in late 2022, Auros’ recovery has reached a turning point with its expansion.
As of right now, Auros projects that it manages around 4% of the volume of cryptocurrency trades on exchanges worldwide. Auros is the “power user” of the VC arm’s services, which are focused on assisting businesses in scaling their operations. The company’s “concentrated bets” will mostly be made in seed and series A stage ventures, with an emphasis on areas where “the next billion of regular users will come” to cryptocurrency.
JPMorgan, DBS, and Standard Chartered Support Partior. This Payment Network Has Secured $60 Million in Series B Investment
Peak XV Partners oversaw the investment with assistance from Jump Trading Group and Valor Capital Group. Partior wants to provide standardized interbank payment rails for blockchain technology that will enable immediate clearing and settlement.
Partior plans to use the additional cash to enhance its skills in cross-currency repurchases and intraday foreign exchange swaps. It is currently very normal to use blockchain-based technologies to speed up banking procedures. Since being live a few years ago, hundreds of billions of dollars worth of transactions have been cleared over JPMorgan’s Onyx network. Fidelity tokenized money market fund shares last month using Onyx.
For a New Web3 Venture Capital Fund, Morgan Creek Digital Intends to Raise Up to $500 Million
The fund will focus on early-stage possibilities in semiconductors, data, blockchain, artificial intelligence, and chips. The company wants to increase its presence in Asia-Pacific, Europe, the Middle East, and Africa. In an effort to increase its regional presence, the venture capital company is in communication with corporate executives, institutional and sovereign investors, and subject matter experts in the relevant industries in these areas. The areas of APAC and EMEA are anticipated to lead the way in technology in the future by making investments in blockchain and artificial intelligence.
Investments made by the new fund will go toward the “ABCDs” of Web3, businesses that leverage blockchain, artificial intelligence, and related technologies to extract value from data. The company likes to invest in technology that spans several industries, like bitcoin mining or high-performance processors used for AI training in data centers.
It is anticipated that generative AI investments in APAC nations will nearly treble to $3.4 billion in 2024, while digital expenditures for AI in EMEA will expand by 40%, possibly contributing $30 billion in new net investment by 2025. Since its founding in 2018, Morgan Creek Digital has raised more than $440 million and now holds about 80 equity investments.
Blockchain Company Rome Has Received $9 Million Investment
Numerous investors contributed to the fundraising, including Robot VC, LBank, Anagram, TRGC, HashKey, Hack VC, P2 Ventures, Portal Ventures, Bankless Ventures, and Perridon Ventures. Rome wants to establish Solana as the backbone of data availability (DA) and shared sequencers, which are necessary to store transactional data produced by Ethereum layer-2s at a cheaper cost than placing the data into the main Ethereum chain.
Additionally, the project intends to enable “atomic transactions”—that is, transactions with multiple legs conducted on separate blockchains—between Ethereum layer-2 networks. As part of the larger trend of “modular” blockchains, where some tasks that were previously handled only by the main Ethereum chain are unbundled and handled instead by alternative projects, Rome joins other crypto projects attempting to construct shared sequencers or DA.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
