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Wednesday, 14 October 2020, 10:00 HKT/SGT

Source: Moonstake
Moonstake raises $1.04 Million - accelerating connection from staking to DeFi

SINGAPORE, Oct 14, 2020 - (ACN Newswire) - Moonstake today announced that it has successfully closed its seed round funding and has raised over $1.04 Million (approximately JPY 110 Million). Partnerships with more than 10 public blockchains such as Emurgo (one of Cardano's constituent corporations) and advanced products centered on staking wallets attracted a great deal of attention, leading to this procurement six months since it was founded. This procurement was carried out with Singapore-based venture capital firm Ruby Capital as the lead investor and financial investors with domestic and overseas bases as business partners.

Since Moonstake was founded, Moonstake has sought to meet growing demand in Asia and globally by developing its own innovative staking protocols. Moonstake's product is a one-stop solution with staking capabilities that provides a gateway for users to facilitate their use of cryptocurrencies via web and mobile wallets (iOS/Android). Currently, Moonstake supports staking for ADA, Tezos, Cosmos, Ontology, QTUM, IRISnet, Harmon and further innovative products such as connection to DeFi via wallet will be developed in the future.

With this funding, Moonstake will step up its existing staking pool operations and wallet service offerings. In addition, while further expanding the products and services for businesses that we have been promoting, we will build a platform for decentralized finance (DeFi), which we have been connecting for some time, and a protocol for solving staking liquidity. We will promote innovative initiatives in the DeFi area with development.

Staking has been in full swing since 2019. Earlier this year, the market value of the staking market expanded 3.5 times in the 10 months from the beginning of the year, even in the single year of 2020, due to the PoS transition of well-known projects such as ADA and the start of staking.

Against this backdrop, Moonstake has been developing more user-focused staking products to create Asia's largest staking pool network. The number of users continued to grow due to active alliances with public blockchains and marketing cooperation, and in October, Moonstake's total staking amounted to over $50Million.

Panjun Wang, Partner at Ruby Capital says:
Moonstake has continued delivering recorded achievements in the crypto staking service industry, and Ruby Capital is excited to be part of its journey from Staking to Defi. We look forward to the joint-developments and bringing more values to the users of the Moonstake!

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to create the largest staking pool network in Asia, a robust environment for the cryptocurrency holders is one of its missions. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Catalist-Listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey. https://www.moonstake.io/

About Ruby Capital

Ruby Capital Pte Ltd., is a licensed venture capital fund manager regulated by the Monetary Authority of Singapore. The team employs industrial professionals and specialists in Singapore, Japan and China. Ruby partners with BinaryStar, Infinity Blockchain Group and others from China, Japan, South Korea, Singapore, and Europe with strong connections in Finance, IT Technology, Incubators, Education and Supply Chain industries. Ruby capital invests in artificial intelligence, data analytics, Fintech, consumer technology innovations, distributed ledger technologies (DLT), extended realities, quantum computing and other high-potential innovations. https://rubycapital.sg/

Topic: Press release summary
Source: Moonstake

Sectors: Crypto, Exchange
From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


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