Crypto Exchange Lykke to Launch Blockchain Accelerator and Venture Firm
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Crypto Exchange Lykke to Launch Blockchain Accelerator and Venture Firm

Crypto exchange Lykke launches its blockchain-based accelerator and venture firm in partnership with two former executives from IBM and UBS.

The Zug, Blockchain Valley Ventures (BVV) based in Switzerland, announced on Thursday that the firm is going to offer a bunch of services to businesses planning to use the blockchain, which includes ICO, capital investment, marketing support, and even aid to developing tokens.

The firm also said that it is ready to help businesses implement Lykke’s open source blockchain technology.

Oliver Bussman, BVV board member, and UBS’ ex-group chief information officer said in one of his statements that the core aim of BVV is to bridge the gap between startups and investors by promoting some real, innovative projects which offer the global economy some solid benefits.

BVV’s core mission is not to offer substantive benefits to just the global economy but to the blockchain sector as a whole.

The firm has called its strategy for funding startups and business ventures the ‘hybrid model’. Additionally, the firm plans on utilizing a combination of venture capital and receipts raised through ICOs.

Richard Olsen, Founder and CEO of Lykke, said in a statement that a business venture doesn’t need to wait for a long time to accumulate enough revenue to achieve its goals and make its dreams come into reality, as ICOs have become the new normal and proceeds raised through them can be utilized to fund the venture.

He added,

However, many would-be token issuers need guidance which is neutral, independent and unbiased.

The firm said that initially, it is going to focus more on EU-based projects, but eventually plans on moving onto global projects. As mentioned earlier, its core mission is to make a global impact.

Heinrich Zeltmayer, former IBM Executive, said the firm wants to assist projects they believe, have some real potential to impact industries primed for disruption.

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