Iota Foundation to Support EU Block chain Initiative, CoinSwitch Kuber could Reach "Unicorns" Soon

 

Iota Foundation to Support EU Block chain Initiative.

The European Commission's blockchain initiative has selected the Iota Foundation as one of seven projects to participate in the preliminary stage of designing an EU-wide distributed ledger technology platform. 

The initiative seeks to increase the efficiency and accountability of the European Blockchain Services Infrastructure (EBSI), a network of nodes dedicated to facilitating the efficiency of EU-centric transactions, as well as the expansion of the region's supply chain through the adoption of emerging technologies, all the while reducing European carbon footprint. 

Iota Foundation to Support EU Block chain Initiative, CoinSwitch Kuber could Reach "Unicorns" Soon

CoinSwitch Kuber could Reach "Unicorns" Soon

• CoinSwitch Kuber hints at another possible fundraising round.

• If confirmed, the round will raise $2 billion.

• This will give the exchange ‘unicorn status’.

CoinSwitch Kuber, an Indian cryptocurrency exchange, says that it is currently in talks to begin a new funding round. Upon a green signal, the fund will aim to raise up to $2 billion.

If this fundraising venture is to go through, then CoinSwitch Kuber will gain an impressive title. In particular, this will make it the second crypto startup, when comparing those present in the world’s second-largest internet market, to gain the ‘unicorn status’.

This title is given to those startups that achieve a valuation of over a billion dollars. Given time, the exchange could certainly have reached this valuation on its own. However, most startups tend to raise funds in their initial stages.

Founded on June 1, 2020, CoinSwitch Kuber has already undergone a couple of rounds in funding. Moreover, funds are got only when a pr...