Stellar-based Startup Lightnet Raises $31.2 Million in Funding

Blockchain know-how startups stay a sizzling commodity. Particularly now that China and different nations plan to completely embrace this modern know-how. 

Lightnet, a blockchain startup primarily based in Thailand, just lately accomplished a serious funding spherical.

A Main Success for Lightnet

Ultimately, the outfit will pocket $31.2 million from a spherical led by United Abroad Financial institution. 

Different essential traders embrace HashKey Capital, Signu Capital, and Seven Financial institution.

Lightnet envisions  a world the place the whole remittance market will likely be powered by blockchain know-how.

This method will present extra viable options to the unbanked migrant employees in Southeast Asian markets. 

Extra particularly, the corporate deems the widely-used Swift system to be woefully inefficient.

As a substitute, Lightning needs to interchange this method altogether by leveraging sensible contracts and distributed ledgers.

This method may also support in connecting current monetary methods with non-bank brokers and fiat-transaction community options. 

With this new funding, the corporate can additional beefen up its underpinning know-how.

It’s price mentioning that Lightnet leverages the Stellar blockchain for its particular functions. 

The primary transaction to happen over Lightnet ought to happen in Q1 2020.

On the mixing entrance, the Thai blockchain startup will combine with MoneyGram, Yeahka, and Ksher. 

This confirms the target of shortly increasing throughout Southeast Asia in an aggressive method.

Picture(s): Shutterstock.com

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