FUSION Secures 12.3 billion USD in Financial Assets
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FUSION Secures 12.3 billion USD in Financial Assets

FUSION, a Singapore-based crypto-finance company has succeeded in obtaining 12.3 billion USD in financial assets from three vital partners. These assets will be locked on the startups’ public blockchain platform by the partners.

FUSION is an inclusive public blockchain that provides the infrastructure and architecture for fully fledged financial functions on the blockchain. It is opening a new era of cryptofinance for the Internet of Values. By cooperating with financial institutions, cryptocurrency companies, 3rd party app developers, academia and the broader cryptocurrency community, it is building a broad finance ecosystem on the blockchain.

The three companies that are providing the funds are Carnex, KuaiLaiCai and FormulaA. These companies operate in the domain of car financing, restaurant supply chain management and asset management, respectively.

These companies obligate to using the blockchain technology in order to manage and process transactions from those funds, by depositing the sums on the FUSION blockchain.

By utilizing FUSION, the companies supposedly will get access to a larger global financial network. Additionally, they will be able to deal in different cryptocurrencies and will have a wider option of financial instruments

DJ Qian, the founder of FUSION remarked on the deal:

“FUSION is like a value connector. Every company has its own ecosystem and the money flows from one player to another. But that ecosystem is actually limited. What FUSION is trying to do is create a platform that will help those ecosystems connect with each other once they have digitized their assets.”

Just yesterday, Paxos, an American financial technology startup raised 65 million USD from investors to reinforce its operations such as to operate a digital currency exchange and custodian itBit and giving blockchain-based services to financial institutions.

Not long ago, a cloud-based storage network company, Tradeshift said it would push blockchain advancement with the money it got from its most recent financing round.

 

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.