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Animoca Brands leads $7M funding round for Param Labs

Param Labs, a leading provider of blockchain-based solutions, has successfully secured a $7 million funding round, marking a significant milestone in the company’s growth and expansion efforts. The funding round, led by prominent venture capital firms, underscores investor confidence in Param Labs’ innovative technology and strategic vision.

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Param Labs, a leading provider of blockchain-based solutions, has successfully secured a $7 million funding round, marking a significant milestone in the company’s growth and expansion efforts. The funding round, led by prominent venture capital firms, underscores investor confidence in Param Labs’ innovative technology and strategic vision.

The $7 million funding round will provide Param Labs with additional resources to further develop and scale its blockchain solutions, which are designed to address a wide range of industry challenges and opportunities. The company’s innovative approach to blockchain technology has garnered attention from investors seeking to capitalize on the transformative potential of decentralized systems.

Param Labs’ blockchain solutions offer a variety of applications across industries such as finance, supply chain management, healthcare, and beyond. By leveraging blockchain technology, Param Labs aims to streamline processes, enhance transparency, and reduce costs for businesses operating in diverse sectors.

The successful completion of the $7 million funding round is a testament to Param Labs’ strong leadership team, innovative technology, and market potential. With the support of leading venture capital firms, the company is well-positioned to accelerate its growth trajectory and establish itself as a key player in the blockchain industry.

In addition to developing its core blockchain solutions, Param Labs plans to use the funding to expand its team, enhance its infrastructure, and pursue strategic partnerships and collaborations. These initiatives will enable Param Labs to better serve its clients and drive innovation in the rapidly evolving blockchain ecosystem.

The $7 million funding round represents a vote of confidence in Param Labs’ ability to deliver value and innovation in the blockchain space. As the company continues to execute on its growth strategy, investors and stakeholders can expect to see continued advancements and achievements from Param Labs in the coming months and years.

In summary, Param Labs’ successful $7 million funding round marks an exciting chapter in the company’s journey and underscores the growing interest and investment in blockchain technology. With its innovative solutions and strong financial backing, Param Labs is well-positioned to capitalize on opportunities in the dynamic and rapidly evolving blockchain industry.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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