Former Meta employees and key players behind the firm’s defunct stablecoin project Diem have raised $200 million to expand a new project dubbed Aptos.
Aptos was cofounded by former Novi — Meta’s crypto unit — strategic partnerships lead Mo Shaikh and tech lead Avery Ching. The duo is now serving as the CEO and chief technology officer for the new firm. Both left the company in December, prior to Diem being sold to Silvergate Capital (NYSE:SI) in February this year.