FinLab EOS VC makes a seven-digit Euro investment into Agora Innovation GmbH. The Frankfurt-based blockchain start-up will extend its marketing and sales activities and aims to enter European and Asian markets. The access to the EOS blockchain enables the company's reach for its market leading IVE.ONE software. With IVE.ONE, Agora Innovation brings a regulated issuing and investment platform to market maturity, which enables global trading of digitized securities within the legal framework on the blockchain. In addition to the Ethereum protocol ERC20, IVE.ONE can also be set up on the EOSIO blockchain, ensuring the highest scalability for their product. "With the seed investment of HTGF one year ago, we were able to bring our product IVE.ONE to market readiness and developed a better ecosystem for digital assets on the blockchain," Agora Co-Founder and CEO Phong Dao said. "With the current financing round, we now have the opportunity to expand our marketing and sales activities and to grow our team in these areas," Dao added. "In 2020, Agora Innovation will focus more on the Asian market with our goal to expand into Europe as well. The ongoing partnership with HTGF confirms the approach of our solution and we are pleased to have won a second key partner in FinLab EOS VC," Dao said. "Our next customer is already scheduled to start a token sale on our platform in the second quarter of 2020." "With IVE.ONE, Agora Innovation created a product that incorporates a complete and automated regulatory framework on one single platform. The company's solution offers the highest usability and functionality for investors and issuers. With this approach, Agora makes a key contribution to the market viability of blockchain-based securities that have a significant efficiency advantage compared to the issuance of traditional financial instruments," says Stefan Schütze, Managing Director of FinLab EOS VC Fund. Agora Innovation is also taking the next technological step with the FinLab EOS VC investment. "With access to the EOS blockchain, we hope to achieve greater flexibility and less dependence on just one blockchain protocol. Following ongoing updates to EOSIO, EOS is becoming a serious competitor to the Ethereum blockchain and is enabling us to cover even more use cases with our product IVE.ONE while ensuring the scalability of our solution," explained Co-Founder and Chief Product Officer Evgeny Matershev. With IVE.ONE, Agora Innovation enables the blockchain-based issuance and investments into regulated securities. Verified digital identities can be linked to blockchain wallet addresses and they also become aligned with the varying national regulatory requirements using the so-called "Rule Engine". This solution allows the automated verification of corporate and personal data which protects market participants from money-laundering and the risk of sanctions, while ensuring regulatory compliant trading of securities based on blockchain technology. About Agora Innovation:
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End of Media Release Issuer: FinLab AG Key word(s): Enterprise
18.02.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | FinLab AG |
Grüneburgweg 18 | |
60322 Frankfurt/Main | |
Germany | |
Phone: | +49 (0)69 719 12 80 - 0 |
Fax: | +49 (0)69 719 12 80 - 011 |
E-mail: | investore-relations@finlab.de |
Internet: | www.finlab.de |
ISIN: | DE0001218063 |
WKN: | 121806 |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
EQS News ID: | 976959 |
End of News | DGAP Media |