The new investment and partnership news of the altcoin market included the participation of giants such as OKX Ventures and Jump Trading, financing rounds.
Sei Labs raised $30 million in funding from industry giants
Sei Labs, the team behind Sei Blockchain, announced that it has raised $30 million in two strategic funding rounds from investors including Jump, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere and Bixin Ventures.
This funding will help accelerate Sei Labs’ continued growth and deepen its presence in the Asia-Pacific region, promoting the development of the cryptocurrency ecosystem globally.
Sei’s Blockchain optimizations enable decentralized exchanges and trading apps to offer the best user experience with modern performance and scalability. Funds from this round will play an important role in Sei’s further solidifying its presence as the fastest Tier 1 for trading.
Meanwhile, cryptocurrency exchange OKX’s investment arm, OKX Ventures, announced a strategic investment with Sei Network. According to Dora, founder of OKX Ventures, “…for this investment in Sei, the network will provide funds, services, resources and other multifaceted support, grow with entrepreneurs and empower project parties and help them create a more decentralized and efficient financial infrastructure. We will promote the OKX ecosystem to become a
Web3 focused altcoin project, Collaboration with Axel Springer doing
Polkadot’s Blockchain-based decentralized identity solution, KILT Protocol, has recently announced a collaboration with Axel Springer, one of Europe’s largest digital publishers. The collaboration aims to integrate KILT’s Blockchain-based identity solutions with Axel Springer’s digital capabilities.
KILT’s identity integration will enable Axel Springer to explore the potential of Web3 technologies and develop more innovative applications in the media industry. It will also demonstrate how the Polkadot network and parachain projects can work with real-world businesses to uncover practical applications of Web3 technology.
What do partnerships mean for altcoin investors?
KILT and Axel Springer integration gives users a new and secure way to identify themselves. cryptocoin.com As we have reported, KILT has recovered significantly in terms of price with its new partnerships in recent months. Their latest partnership demonstrates the rapid adoption of Blockchain in the way businesses work.
On the Sei side, co-founder Jayendra Jog stated that “infrastructure and practices have historically come in cycles” and that Sei’s mission is to create the best infrastructure for commerce. Funding raised today will accelerate Sei’s efforts to unlock the next cycle of new apps on Web3, allowing developers to build apps that perform much higher than before.
Currently in development, Sei has seen remarkable growth with more than 120 teams deployed on Sei in front of the mainnet, which shows the strong enthusiasm and support of the developer. Sei’s most recent public testnet, which went live on March 13, attracted more than 3.6 million unique users and processed over 35 million transactions in less than a month.
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