Companies that use blockchain technologies continue to receive regular investments from outside investors. For instance, blockchain service provider Paxos received $65 million in investments. Cloud-based supply chain firm Tradeshift received $250 million from a recent funding round that included Goldman Sachs. Now a Singapore-based company has secured a large amount of money from multiple investors to grow its operations.
FUSION Receives $12.3 Billion From Three Investors
FUSION is a crypto-finance firm based in Singapore. The company is a startup and runs its own public blockchain platform. In essence, FUSION gives its clients access to a global network to process and handle financial transactions. It's a growing company with a ton of potential, and now three investors have bought into that potential. They'll have immediate access to FUSION's network in an ongoing partnership.
FormulA is an asset management company, Carnex deals with automobile financing, and KuaiLaiCai handles the management of restaurant supply chains. All three companies have partnered with FUSION, bolstering the startup with $12.3 billion. In simple terms, the trio of companies has agreed to secure their funds on FUSION's network. They'll utilize the network to process their transactions and manage their finances.
Quite A Feat For A Crypto-Finance Startup
Such a turn of events is quite impressive for FUSION, especially as a startup. Most companies would love to receive $12.3 billion in investment. Without a doubt, it's even more impressive that a blockchain-based service provider has received these funds. FUSION will undoubtedly receive further investments from other companies in the near future. Its network comes with a lot of potential for the average company or investor.
Money Flowing Into Cryptocurrency Platforms and Blockchain-Based Companies
Although cryptocurrency prices remain stagnant, companies utilizing blockchain technology continue to thrive. The same applies to cryptocurrency exchanges themselves, which benefit from high trading volumes. More and more investors continue to flock to these companies, bolstering the long-term success of blockchain technology. While FUSION may not become the largest player in this industry, such a major investment could start to give way to even larger investments in other firms.
Only time will tell where blockchain technology takes companies and industries.