Digital Bank Y2X Secures Investment From Cardano Venture Arm EMURGO
EMURGO, the investment wing of the Cardano project just announced their first investment of the year. They have become the chief investor in Y2X who is a digital merchant bank for a decentralized economy.
Just Announced:⚡️📣 EMURGO’s first investment of 2019! ⚡️EMURGO Makes Strategic Investment into Leading Digital Merchant Bank Y2X Fostering Long Term Partnership! Read our press release! https://t.co/DqOIFbe2an RT! cc: @officialY2x #EMURGOJBC2019 pic.twitter.com/pfbI7Edqsv
— EMURGO (@emurgo_io) January 31, 2019
Through this partnership, Cardano becomes the protocol for Y2X and its portfolio firms. This enhances the usage of the technology particularly in the regulation of STOs. This adds value to ADA users.
On the company’s recent investment EMERGO’s Cheif Investment Officer said:
“We are delighted to lead this funding round and foster closer cooperation with Y2X. We look forward to providing multiple solutions within the Cardano ecosystem to help Y2X and its partners to boost their growth, further secure their operations and optimize their processes.”
Y2X’s Co-founder, David Shular added:
“The Blockchain is unleashing peer-to-peer engagement and creativity, propelling an explosive force that will drive innovation for entrepreneurs and technologists. Our partnership with EMURGO and Cardano will enable us to bring those innovative forces together to bear more effectively as we invest in and incubate new companies.”
What Is Y2X?
Established by a group of experienced financial services professionals, technologists, and entrepreneurs, Y2X aims to be the leading technology-driven platform that will identify, incubate, advise, and finance the next stage of transformative ideas. They aim to finance their uncommon investment model through a global offering of Y2X Equity Tokens. With a proprietary investment underwriting methodology, a best-in-class issuance and compliance platform, and a pipeline of deals already under execution, Y2X is positioned to raise capital and develop a portfolio of companies capable of generating perpetual alpha returns.
What Is EMURGO?
EMURGO drives the adoption of Cardano and adds value to ADA holders by building, investing in, and advising projects or organizations that adopt Cardano’s decentralized blockchain ecosystem. EMURGO leverages its expertise in blockchain R&D as well as its global network of related blockchain and industry partners to support ventures globally. EMURGO is the official commercial and venture arm of the Cardano project, registered in Tokyo, Japan since June 2017 and in Singapore since May 2018.