Blockchain firm Fnality International, which aims to create a global network of digital currencies backed by central banks, has raised $95 million in a new funding round led by Goldman Sachs.
Fnality, founded in 2019 by a consortium of 15 financial institutions, including UBS, Barclays, BNY Mellon and Santander, is developing a platform that will enable the issuance and exchange of digital versions of five major fiat currencies: the US dollar, the euro, the British pound, the Canadian dollar and the Japanese yen.
The company says its platform will reduce costs and risks for cross-border payments, settlements and clearing, as well as enable new use cases for tokenized assets and decentralized finance (DeFi).
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The new funding round, which also saw participation from existing investors such as Nasdaq, Clearmatics and ConsenSys, brings Fnality’s total capital raised to date to $174 million. The company plans to use the funds to accelerate its development and regulatory approval process, as well as to expand its team and partnerships.
Fnality’s CEO, Rhomaios Ram, said in a statement: “We are delighted to have completed our latest funding round with such strong support from both new and existing investors. This is a testament to the progress we have made since our inception and the potential of our platform to transform the future of finance. We are grateful for the trust and confidence that our investors have placed in us and look forward to working with them to bring our vision to life.”
Goldman Sachs’ Global Head of Digital Assets, Mathew McDermott, who joined Fnality’s board of directors as part of the deal, said: “We are excited to lead this investment round in Fnality and to support their mission of creating a more efficient and inclusive financial system. We believe that blockchain technology has the potential to unlock significant value for our clients and the broader economy, and we are committed to advancing innovation and adoption in this space.”
Mocaverse, a leading platform for creating and monetizing digital collectibles, has announced the launch of a Web3 accelerator program in collaboration with Amazon Web Services (AWS) and Polygon Labs. The accelerator aims to support innovative projects that leverage blockchain technology, non-fungible tokens (NFTs), and decentralized applications (dApps) to create immersive and engaging experiences for users.
The Web3 accelerator will provide selected projects with access to Mocaverse’s suite of tools and services, including its NFT marketplace, its creator dashboard, its smart contract framework, and its user-friendly wallet. Additionally, the projects will benefit from AWS’s cloud infrastructure, Polygon’s scalable and secure layer-2 solution, and mentorship from industry experts and investors.
The accelerator is open to applications from startups, developers, artists, and creators who have a vision for building the next generation of Web3 applications. The program will run for 12 weeks, starting from January 2024, and will culminate in a demo day where the projects will showcase their products to potential partners and investors.
Mocaverse’s CEO, said: “We are thrilled to launch this Web3 accelerator with AWS and Polygon Labs, two of the most trusted and respected names in the blockchain space. We believe that Web3 is the future of the internet, and we want to empower creators and innovators to bring their ideas to life using our platform. We are looking for projects that are not only technologically advanced, but also have a strong social impact and a clear value proposition for users.”
AWS’s Head of Blockchain, said: “AWS is committed to supporting the development of Web3 applications that leverage the power of the cloud and blockchain. We are excited to partner with Mocaverse and Polygon Labs to provide the accelerator participants with access to our world-class cloud services, such as Amazon S3, Amazon EC2, Amazon DynamoDB, and Amazon Managed Blockchain. We hope that this program will help accelerate the adoption of Web3 technologies and foster a more open, transparent, and inclusive internet.”
Polygon Labs’s said they are proud to join forces with Mocaverse and AWS to launch this Web3 accelerator. Polygon is the leading layer-2 solution for Ethereum, offering fast, cheap, and secure transactions for dApps and NFTs. We are eager to see what kind of innovative and creative projects will emerge from this program, and how they will leverage Polygon’s technology to enhance their user experience and scalability.
Microsoft Launches Loop, a Notion-Like Collaboration App
Microsoft has officially launched its productivity and collaboration app, Loop, bearing similarities to the popular Notion platform.
Loop provides flexible and collaborative workspaces, allowing users to cooperate seamlessly on various tasks. The interface closely resembles Notion, including features such as quick access to tools and formatting options using the forward slash key.
Built by Microsoft, Loop offers integrations with other Microsoft software, enabling users to share portions of Loop pages across apps like Teams Chat and Outlook. This integration aims to enhance collaboration without the need for constant app-switching. Microsoft’s AI-powered Copilot assistant is also available within Loop, assisting with tasks like drafting text and summarizing pages.
Loop is now available for commercial customers on web and mobile platforms, with the mobile app also accessible to consumer customers. Although the consumer version of Loop on the web remains in public preview, its official launch signifies Microsoft’s commitment to providing a versatile and integrated tool for collaborative work.
What is Microsoft Loop?
Microsoft Loop introduces a co-creation experience, bringing together teams, content, and tasks across tools and devices. It features a canvas and portable components for easy movement and synchronization, enabling teams to think, plan, and create together.
Microsoft Loop comprises three main components:
Loop Components: Portable content pieces that synchronize across various platforms, facilitating real-time collaboration. Components like lists and tables can be used in Loop pages, chats, emails, meetings, or documents.
Loop Pages: These act as canvases for bringing together people, components, links, tasks, and data. Loop pages can be shared across Microsoft 365 apps as links or embedded as Loop components.
Loop Workspaces: Shared spaces that provide organized views of project details, simplifying progress tracking and enabling easy catch-up on contributions toward shared goals.
How to Access Loop?
Loop is accessible on the web, iOS, and Android. Loop components are compatible with applications such as Teams, Outlook, Word for the Web, and Whiteboard.
Is Microsoft Loop Free?
During the Public Preview phase, the Microsoft Loop app is available at no charge for personal Microsoft Accounts. However, there are quantitative limits on Loop workspace usage for personal accounts, including a maximum workspace size of 5 GB, a limit of 5 workspaces created by one user, and a cap of 50 members in a workspace.
Alibaba lost more than $22 billion in market value Friday after the company unexpectedly reversed its decision to list its cloud business, reports Bloomberg. It’s a major blow for the Chinese tech giant at a time when it’s already been struggling to bounce back from the pandemic and a tech industry crackdown in China. Another obstacle: the Biden administration’s export restrictions on chips used for AI, which the U.S. says could have military applications and which also power the cloud unit. Alibaba has been focusing heavily on artificial intelligence; its cloud unit serves about 80% of China’s tech companies, per Bloomberg.(LinkedIn News)