GRVT, a startup that aims to create a hybrid crypto exchange platform, has announced that it has raised an undisclosed amount of funding at a $39 million valuation. The funding round was led by XYZ Ventures, a prominent VC firm in the blockchain space, and joined by several other investors.
According to GRVT, its hybrid crypto exchange will combine the best features of centralized and decentralized exchanges, such as high liquidity, low fees, fast transactions, and enhanced security. The platform will also support multiple types of assets, including cryptocurrencies, stablecoins, tokens, and NFTs.
GRVT’s co-founder and CEO, said that the funding will help the company accelerate its product development and launch its beta version by the end of this year. He also added that GRVT’s vision is to democratize access to the crypto economy and empower users with more control and transparency over their assets.
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Blockchain tech firm Jiritsu secures $10.2 million to develop verifiable computing
Jiritsu, a blockchain technology company based in Tokyo, Japan, announced that it has raised $10.2 million in a Series A funding round led by SoftBank Ventures Asia. The round also included participation from existing investors NTT Docomo Ventures and Mitsubishi UFJ Capital.
Jiritsu is developing a platform that enables verifiable computing, a technique that allows users to verify the correctness and integrity of computations performed by third-party servers or cloud providers. Verifiable computing can enhance the security, privacy and efficiency of various applications, such as decentralized finance (DeFi), artificial intelligence (AI), and internet of things (IoT).
Jiritsu’s platform leverages blockchain technology to create a network of nodes that can perform computations and provide cryptographic proofs of their results. Users can submit their tasks to the network and pay for the service using Jiritsu’s native token, JRT. Users can also verify the proofs using Jiritsu’s open-source software or hardware devices.
Jiritsu’s co-founder and CEO (not to be confused with the pseudonymous creator of Bitcoin), said that the company’s vision is to create a trustless and transparent computing infrastructure that can empower users and developers.
“We believe that verifiable computing is a key technology that can unlock the full potential of blockchain and other emerging technologies. By providing a platform that can guarantee the correctness and integrity of computations, we can enable users to outsource their tasks without worrying about malicious or faulty servers. We can also enable developers to create innovative applications that can leverage verifiable computing, such as DeFi protocols that can execute complex financial contracts, AI models that can preserve data privacy, and IoT devices that can optimize energy consumption,” Nakamoto said.
Jiritsu plans to use the new funds to expand its team, develop its platform, and launch its mainnet in 2024. The company also aims to collaborate with other blockchain projects and industry partners to promote the adoption of verifiable computing. Seungyeon Kim, a partner at SoftBank Ventures Asia, said that he was impressed by Jiritsu’s team and technology.
“Jiritsu is one of the few companies in the world that is working on verifiable computing, a cutting-edge technology that can solve some of the major challenges in the blockchain space, such as scalability, security and privacy. We are excited to support Jiritsu’s vision of creating a verifiable computing platform that can benefit various industries and applications,” Kim said.
XYZ Ventures’ partner said that they were impressed by GRVT’s team, technology, and vision. She said that GRVT has the potential to disrupt the crypto exchange market and create a new standard for user experience and security. She also expressed her confidence in GRVT’s ability to execute its roadmap and deliver value to its customers and stakeholders.
GRVT is one of the latest examples of how the crypto industry is attracting more attention and capital from investors and entrepreneurs. As the demand for crypto assets and services grows, GRVT aims to provide a unique and innovative solution that can cater to the needs of both novice and experienced crypto users.