ADVANCED BLOCKCHAIN AG
EQS-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Miscellaneous
Advanced Blockchain AG: Portfolio company peaq raises USD 20 million through public token launch on CoinList May 21, 2024 – Advanced Blockchain AG ("AB", Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry, is pleased to announce that its portfolio company peaq, a leading Layer 1 blockchain for Decentralized Physical Infrastructure Networks (DePIN), has successfully raised USD 20 million in a public token launch on the CoinList platform. The transaction was based on a valuation of USD 333 million and was one of the most successful launches on the platform in over two years, with 14,500 investors and around USD 36 million in total contributions, according to CoinList. peaq uses blockchain technology to develop decentralized applications (dApps) and real infrastructure projects. Innovative projects in the peaq ecosystem include charge.xyz, an app that will allow users to register their chargers and electric vehicles with peaq IDs, and farmsent.io, a platform for the agricultural industry. These projects illustrate how peaq is transforming the physical world through digital mapping using blockchain technology and tokens. DePIN is currently regarded as one of the most significant trends in the blockchain sector. According to the analysis portal Messari, the value of the DePIN sector could rise to USD 3.5 trillion by 2028. More than 25 applications in eight different sectors are already running on the peaq blockchain. Over 400,000 devices, vehicles, machines and robots (Machine RWAs) are already integrated and actively using the platform. peaq is therefore the fastest growing DePIN ecosystem worldwide. Back in March 2024, Advanced Blockchain AG announced that its portfolio company peaq had successfully raised USD 15 million in a Series A financing round led by Generative Ventures and Borderless Capital. Simon Telian, CEO of AB, comments: "The successful funding round in March this year and the remarkable token launch on CoinList are significant milestones for peaq and underline the enormous potential of DePIN. We are proud to accompany peaq on this journey and actively shape the future of decentralized infrastructure."
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
21.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | 030403669511 |
| E-mail: | info@advancedblockchain.com |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1907761 |
| End of News | EQS News Service |
1907761 21.05.2024 CET/CEST
