4. März 2024

Ripple and Visa Join Hong Kong CB for Anoma’s $25M Funding

• Crypto exchange Binance has announced the winner of its metaverse-based Web3 reality show, “Build the Block”
• ZkPass, a decentralized identity verification solution that preserves privacy, won the contest after receiving the most votes
• Anoma has secured funding to continue developing its architecture

Binance Announces Winner of Build The Block Competition

Binance has announced the winner of its metaverse-based Web3 reality show, “Build The Block.” Startups competed against each other for an investment from Binance Labs and zkPass, a decentralized identity verification solution that preserves privacy received the most votes. Joshua Peng, co-founder of zkPass said that this investment will help build a decentralized infrastructure. Yibo Ling, chief business officer at Binance also commented on the growth potential of the competition’s winner.

Other Contestants Receive Investment Offers

Four other contestants also received investment offers from Binance Labs including Mind Network (a decentralized privacy-preserving data lake), Kryptoskatt (a platform to simplify Web3 finance), Bracket Labs (a DeFi platform creator) and dappOS (an operating protocol).

Anoma Secures Funding

Blockchain protocol Anoma has secured $25 million in funding to continue developing its architecture. This third-generation architecture provides better composability and ease of use when compared with existing smart contract protocols.

Ripple & Visa Join Hong Kong CBDC Initiative

Ripple and Visa have joined forces with the Hong Kong Monetary Authority (HKMA) in an effort to explore Central Bank Digital Currency (CBDC) initiatives and applications. They are among thirteen companies who have signed up for phase two of Project LionRock which focuses on creating a proof-of-concept for a CBDC retail payment system using distributed ledger technology (DLT).

Conclusion

The crypto space is evolving rapidly as new projects get funded and technologies become more advanced. It was encouraging to see different startups competing against each other for an investment from Binance Labs while Ripple and Visa join forces with HKMA to explore CBDC initiatives and applications.