Singapore: One of the most exciting Fintech and blockchain companies, Rate3 to emerge has just raised US$15 million in a token sale for Blockchain.

Rate3 is a blockchain network which wants to help companies convert their rights to a “real world” physical asset into a digital token on a blockchain.

Rate3 is built on top of blockchain protocols and uses Ethereum. This Ethereum platform allows for the creation of smart contracts, which can store customer's information and make transactions easily.

A combination of Venture Capitalists from across Asia, such as Matrix Partners China and Bo Shen, founder of Fenbushi Capital, as well as crypto investors Node Capital, Kenetic, FBG Capital, Signum Capital participated in the round of investment.

“We believe that blockchains have not reached mainstream adoption because the current infrastructure is not ready yet. First, there are no common legal frameworks to tie ownership and control of real-world assets to digital tokens,” said Jake Goh, CEO & Co-Founder of Rate.

With this Initial raised capital, Rate3 has managed to develop a mobile app that integrates and increase e-commerce platforms for shoppers to find lower exchange rate at no transaction fee for overseas purchases.

https://www.rate3.network/

 

RELATED ARTICLE

Responsive image

Krungsri becomes the first bank in Thailand offering real-time international funds transfer based on Blockchain’s Interledger for corporate customers

Bangkok (30 June 2017) – Approved by the Bank of Thailand, Krungsri (Bank of Ayudhya Pcl.) has developed financial innovations under the Regulatory Sandbox guidelines and becomes t...

Responsive image

Krungsri Finovate successfully leads Series B plus round in Omise

Bangkok — September 28, 2017, Krungsri Finovate, a subsidiary of Krungsri (Bank of Ayudhya) and member of the Mitsubishi UFJ Financial Group (MUFG), announced today the completion ...

Responsive image

KBank introduces world’s first blockchain-based LG service Targeting an increase in L/G issuance via electronic channel to 35 percent

KASIKORNBANK (KBank) has developed its Letter of Guarantee service in the LG market worth THB 1.35 trillion with introduction of the world’s first blockchain-based Letters of Guara...