Thursday, September 29, 2022
HomeLaw & PoliticsZignaly a crypto platform signs USD 50 million deal with GEM

Zignaly a crypto platform signs USD 50 million deal with GEM

GEM, a $3.4 billion alternative investment organisation based in Luxembourg, is providing the funding.

Zignaly, a cryptocurrency social investing platform, has struck a funding deal worth up to $50 million with GEM Global Yield LLC SCS, a fund from Global Emerging Markets (GEM), a $3.4 billion Luxembourg-based alternative investment organisation. GEM funding will help the firm to accelerate the development of major new products and acceptance of the platform worldwide. It allows to empower the masses with an improved manner to invest, stated Zignaly CEO Bartolome Bordallo in a news statement.

Zignaly provides actively managed investing services, allowing customers to invest with skilled cryptocurrency traders and managed funds. Investors pay a charge only if they earn a profit. The platform, according to the business, reduces the restrictions for investors hoping to upgrade digital assets to their wallets while leaving riskier trading and decision making to skilled traders and funds.

The Zignaly infrastructure enables sales and initial DEX offers (IDOs) on a variety of blockchains, including Ethereum, Polygon, Solana, Avalanche, and BNB Chain (previously Binance Smart Chain). The native ZIG cryptocurrency underpins the platform.

According to the business, Zignaly platform users have deposited over $120 million in the portfolios of over 300 dealers and money managers.

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