Thailand FinTech Startup, Lightnet, Secures $31.2 Million to Scale Stellar Development

2020-1-12 20:40

A Blockchain oriented startup dubbed ‘Lightnet’ has secured $31.2 million in Series A funding for scaling its network. The Thailand based firm was supported by big players in Asia’s Financial services space with United Overseas' UOB Venture Management leading the pack.

Lightnet’s blockchain solution targets the fast-growing Asian remittance market that has in the past faced cost and time constraints despite its trillion-dollar potential. The firm leverages Stellar network’s fundamentals for money transfer solutions under its existing products; SmartNet, LiquidNet and BridgeNet. Chatchaval Jiaravanon, the chairman at Lightnet, further emphasized on this niche;

“We launched Lightnet to offer low-cost and instantaneous financial inclusivity and mobility to the four billion lives across Asia Pacific — all powered by Stellar's fast, scalable, and sustainable blockchain technology,”

A Big Boys Favorite Blockchain FinTech in Asia?

As mentioned earlier, Lightnet attracted big corporates in this latest funding round. Other companies which took part include; Hanwha Investment and Securities, Du Capital, Signum Capital, Hopeshine Ventures, HashKey Capital, Uni-President Asset Holdings and Seven bank. It is notable that these are among the largest conglomerates in Asia with UOB dominating Singapore’s market while Hanwha Investment is a Korean financial services giant.

Lightnet’s Goal to Replace SWIFT

The newly injected funds have since placed Lightnet in a better position to make bigger moves; the firm is looking to edge existing tech like SWIFT. Ideally, the payments solution by Lightnet will be implemented through smart contracts in order to integrate more fiat agents; this will be an improvement from the current underground banking avenues and other channels which are not as convenient.

According to Lightnet’s vice chairman, they are optimistic that annual transactional volumes within the ecosystem will have risen to $50 billion in a span of three years. The firm plans to integrate with some existing fiat payment solution entities operating in Asia; Ksher, Yeahka, Seven Bank and MoneyGram have been identified as potentials so far.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Electrify.Asia (ELEC) íà Currencies.ru

$ 0.0002539 (+0.03%)
Îáúåì 24H $106
Èçìåíåèÿ 24h: 3.57 %, 7d: -2.08 %
Cåãîäíÿ L: $0.000242 - H: $0.0002539
Êàïèòàëèçàöèÿ $0 Rank 6592
Öåíà â ÷àñ íîâîñòè $ 0.0014125 (-82.02%)

thailand million lightnet startup asia players financial

Èñòî÷íèê: bitcoinexchangeguide.com

thailand million → Ðåçóëüòàòîâ: 37


Eastern Metal Securities Fraudster Gets Extradited from Thailand for Having Victimized Investors of Over $11 Million in BTC

On Monday, November 18, 2019, the U. S. Department of Justice (DOJ) reported on a case that involved victimizing investors. In particular, it was found that Swedish Citizen, Roger Nils-Jonas Karlsson and his firm, Eastern Metal Securities, were able to trick investors of $11 million combined.

2019-11-20 02:18


Omise CEO calls acquisition report false; The Block’s Mike Dudas hits back at public denial

Jun Hasegawa, the CEO and Founder of Omise, the payment gateway for South Asian markets denied reports that his company was acquired by Thailand’s Charoen Pokphand Group [CP Group]. A report by The Block stated that CP Group, the largest private company in Thailand, had completed its acquisition of Omise for $150 million, citing “several […] The post Omise CEO calls acquisition report false; The Block’s Mike Dudas hits back at public denial appeared first on AMBCrypto.

2019-3-30 15:00


Thai Rappers Adds Song on Zcoin’s Blockchain to Fight Censorship

A rap song titled Prathet Ku Mee (Which is My Country), centered on government oppression in Thailand has garnered over 25 million views on YouTube. The viral song, which is topping Thailand’s iTunes download list as at October 27, 2018, was released by Thai rappers who dropped fiery rhymes about government corruptions, censorships, military dictatorship […] The post Thai Rappers Adds Song on Zcoin’s Blockchain to Fight Censorship appeared first on Coinjournal.

2018-11-5 21:40


Suspected Mastermind Behind $24 Million Bitcoin Fraud Arrested by Thai Police

The Bangkok Post reports that the prime suspect in an ongoing investigation surrounding a $24 million Bitcoin scam has been arrested. Prinya Jaravijit is believed to have swindled Finnish investor Aarni Otava Saarimaa with false claims that Saarimaa’s multi-million dollar investment was going towards a series of stock investments in Thailand.

2018-10-14 19:16


Fraudsters In Thailand Have Stolen $34 Million Worth Of Bitcoin From An Investor, Police Pursuing Suspects

Police in Thailand are hunting for about 6 suspects after a Finnish investor was conned of $34 million worth of bitcoin by a gang posing as an investment group. The case, one that involves a famous actor, Jiratpisit “Boom” Jaravijit, is still under investigation by the Crime Suppression Division (CSD) of the Thai police.

2018-8-14 23:19


Bithumb Eyes Move To Japan and Thailand As Resurge Continues

Bithumb, a Korean-based exchange, is on track to set up branches in Japan and Thailand, according to an exclusive report by local news source Zednet on Monday. In less than a month after the exchange was hacked of $30 million worth of cryptocurrencies, it already has sights set on building an exchange that supports the […] The post Bithumb Eyes Move To Japan and Thailand As Resurge Continues appeared first on ZyCrypto.

2018-7-16 21:30


Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

It Isn’t Layer 1 or Layer 2, It’s Time for LayerZero

While layer 1 solutions like Solana (SOL), Avalanche (AVAX), Binance Smart Chain (BSC), Polkadot (DOT), and Cardano (ADA) are trying to compete with Ethereum, layer 2 solutions like Arbitrum and Optimism are here to solve the issue of high fees and congestion on Ethereum network and have been gaining traction.

Jump Trading Group formally introduces Jump Crypto

Jump Trading Group, a data and research-driven trading business in operation for more than twenty years, today announced the formal launch of Jump Crypto, a dedicated unit focused on the development of blockchain ecosystems and cryptocurrency.