Miami-based finance and investment firm Borderless Capital will invest $500 million in digital assets powering decentralized applications in Algorand.
The company announced on November 30 that $500 million Borderless ALGO Fund IIannounced the. The new fund will be investing in Algorand-based decentralized applications, including those that create new revenue models through NFTs. The fund also aims to expand the DeFi ecosystem, where liquidity mining, lending-borrowing and yield farming operations can be done on an Algorand-based basis.
Known to be one of the biggest investors of Algorand (ALGO) Borderless Capital, Launched in June 2019 and initially raising $200 million Borderless ALGO Fund IAccording to , the budget statement of approximately 2.5 times shows its commitment to the ecosystem.
This new fund will add to the existing $400 million managed by the Algorand company.
Last week, Borderless Capital announced an ecosystem built on top of the Algorand blockchain.PlanetWatch” $10 million to network PLANETS Started a mutual fund. PlanetWatch is a system that allows users to be included in the ecosystem with sensors that measure air pollution and earn income in return for the data they provide.
Sean Lee, CEO of the Algorand Foundation;
Borderless Capital, launched in 2019 Fund I has become an important partner that enables the growth of the Algorand ecosystem. We are excited to see which businesses and innovations Fund II will support.
said.
Algorand looks forward to the future of finance, inclusive of traditional and decentralized models. (FutureFi) aims to build the technology to power it. Founded by Cryptographer Silvio Micali, Algorand; DeFi was developed to provide the capacity needed for financial institutions and governments to seamlessly transition to FutureFi.
About % in the last 7 days3,5′According to CoinMarketCap data, ALGO is trading at $1.88 at the time this article was written.
ALGO is listed as the 21st most valuable cryptocurrency in CoinMarketCap’s list. If the daily trading volume is 579,063,436 dollar.