New Zealand's Callaghan Innovation Awards $330,000 to Vimba Crypto Wallet and Trading Platform

    Callaghan Innovation is the state-backed innovation institute of New Zealand. They have decided to award a $330,000 grant to a crypto wallet and trading service called Vimba, which was formerly named MyCryptoSaver. A press release announced the issuance of the grant money on October 30th via Scoop of New Zealand.

    The R&D Project Grant will allow the cryptocurrency startup to expand the benefits that they provide, while adding more cryptocurrencies on their listings and enabling multi-signature protection on their crypto wallets as well. This type of grant is meant to be used as co-funding for research and development, supporting up to 40% of any given project. In the last fiscal year alone, the company has issued 355 grants of this kind.

    Vimba provides the ability to partake in limited weekly investments involving Bitcoin and Ethereum. Since the platform began, they have endured two separate investment rounds and plans to officially launch their services to the public in the UK within the next few weeks.

    CEO Sam Blackmore has called the client base of Vimba “very stable,” even with the struggle of the bearish market this year. He also commented that the company believes in Bitcoin’s ability to, at minimum, “reach the market cap of gold,” based on their history as being a “more efficient, more accessible, more secure version of that rare asset.”

    Australia has also been awarding government-backed grants to multiple startups involving cryptocurrency and blockchain technology. In Queensland in August, TraveByBit received $8.3 million for innovation funding involving their crypto travel efforts. Allegedly, this company would help to improve tourism in the area by providing crypto-based travel offers. A month earlier, a $1.7 million grant was given to the Queensland Cane Growers Organization to use blockchain technology as the company send sugar supplies across borders.

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    Krystle M
    Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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