Borderless Capital, a Miami-based venture capital firm, has launched a $25 million blockchain fund.

Spread the love

 198 Interactions,  4 today

The $25 million fund will be used to help Miami-based blockchain firms build digital payment systems on the Algorand network.

Borderless Capital’s support for Algorand-based growth has gone another step forwards with the opening of a new $25 million fund in Miami.

The investment firm announced on Wednesday that the $25 million fund will promote blockchain firms in the city of Miami.

The projected $25 million fund, which includes Circle, would purportedly employ the USD Coin (USDC) stablecoin as well as other aspects of Circle’s business to support digital payment technological advancements based on the Algorand blockchain.

According to the statement made on Wednesday, the blockchain investment fund has already received backing from the municipal council. In a statement, Miami Mayor Francis Suarez praised the fund as an example of a public-private cooperation that is pushing the boundaries of blockchain innovation in Miami, adding:

The projected $25 million fund, which includes Circle, would purportedly employ the USD Coin (USDC) stablecoin as well as other aspects of Circle’s business to support digital payment technological advancements based on the Algorand blockchain.

RECOMMENDED READ:  OnePlus may follow Samsung's lead and launch a cryptophone.

According to the statement made on Wednesday, the blockchain investment fund has already received backing from the municipal council. In a statement, Miami Mayor Francis Suarez praised the fund as an example of a public-private cooperation that is pushing the boundaries of blockchain innovation in Miami, adding:

“With the support of Algorand, Circle, and other top local partners, we’re building an ecosystem in line with our vision for Miami. I am so excited to work with Borderless.Miami to make Miami the epicenter for digital capital markets in our pursuit of becoming the ‘Capital of Capital.’”

Indeed, in recent months, Miami has positioned itself as a forward-thinking city in terms of crypto and blockchain adoption. The city will host the Bitcoin 2021 conference on June 3rd, with over 50,000 people anticipated to attend the three-day event.

Miami, according to David Garcia, CEO of Borderless Capital, is the place to go for blockchain development. Garcia stated as part of the announcement that the VC company was transferring its headquarters to the city.

RECOMMENDED READ:  The NBA's 76ers have joined the fan token platform Socios.

 

Leave a Reply

Contact Us