Hedge fund firm IDG Capital has allocated $20 million to blockchain-enabled private placement Dexon, a company founded by Cobinhood, a cryptocurrency services platform and zero-fee exchange endorsed by U.S. football player Richard Sherman.
In a statement, Dexon said unidentified angel investors who believe in the potential of the super-fast decentralized protocol also made investments.
"Investors believe in Dexon's 'blocklattice' protocol, which is underpinned by consensus algorithms that allow for transaction speeds competitive with major credit card companies," said Popo Chen, founder of both Cobinhood and the non-profit Dexon Foundation.
Chen added they intend to form strategic business alliances with like-minded institutions that can provide the same proce...
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