Blockchain platform Zilliqa closes partnership with FBG Capital

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Blockchain platform Zilliqa has received a strategic investment and partnership from FBG Capital.

The firm will invest into the Zilliqa platform, alongside the appointment of founding partner Zhuo Shuoji to the company’s advisors. The firm will help guide the company with commercial and financial industry adoption.

Zilliqa, which was created by researchers from the National University of Singapore, was built to help support the scalability of blockchains. The solution is designed to scale thousands of transactions per second as the network expands. The solution is also tailored to meet machine learning and financial algorithm requirements.

Recently the company revealed their internal test reached a peak output of 2,488 transactions. If the platform had 22,000 computer nodes, which is the amount Ethereum round on, the system could complete 15,000 a second, which is almost double that of VISA’s average.

Next month the company is planning to launch a public testnet, to allow the pulic and developers to test the protocol’s functionality, performance and robustness.

FBG Capital founding partner Zhuo Shuoji said, “Zilliqa is an example of pure innovation being applied towards providing a solution to critical business challenges. We are excited to work with their top-notch team and help them build the next generation of high-throughput blockchain applications.”

Zilliqa is set to launch a public token generation, with details soon to be released.

Copyright © 2017 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.