Electronic money issuer Billon Group completes $ 6 million Series A financing, mainly to expand existing use cases

According to Cryptoninjas, on March 19, the new distributed ledger technology (DLT) company Billon Group announced the completion of Series A financing and issued over $ 6 million in equity to existing and new investors. The company is dedicated to using blockchain technology to process national currencies and business documents.

Enterprise DLT company Billon Group completes $ 6 million Series A financing (Image source: Pexel )

Investors in this round include: FIS, Rising Tide, Mency Capital, VCF III, existing investors and well-known international managers and experts.

The latest round of funding brings Billon's total funding from grants and equity to more than $ 16 million. Previously, the team consisted of co-founder and chief technology officer Andrzej Horoszczak, chief operating officer Robert Kaluza, chief development officer David Putts, and chief commercial officer Jacek Figula. With this new funding, Billon has refined the board and newly appointed Wojtek Kostrzewa as CEO and Anand Phanse as CFO to complement the existing management team.

Billon Group CEO Wojtek Kostrzewa said:

The Series A funding will be used to expand existing use cases, respond to more new customers, and prepare for further opening up the platform to third-party developers and business partners.

Billon's business partners include FIS, Microsoft, the Polish Credit Bureau, Poland's second-largest life insurance company Warta Insurance, the world's largest tobacco company Philip Morris, and a dozen customers in the expansion phase.

Billon Group

At the time of the announcement of the Series A financing, banks around the world are actively seeking a national digital currency “cash on chain” blockchain architecture that conforms to the existing regulatory structure.

As a registered e-currency issuer in the UK and Poland, Billion is an industry leader in creating solutions using its distributed digital cash architecture, and the architecture can meet existing payment requirements without changes.

In addition, Billon is expanding its trusted document management capabilities, including the ability to protect "on-chain" complex data sets and selectively share data elements. This is in contrast to the Ethereum architecture, where architectures such as Ethereum typically off-chain store documents at full backup costs and then link such documents to a hash value.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Bitcoin's soaring population: the mining giant ushered in the spring exchange to die in the cold winter

After experiencing a downturn last year, the price of the world's largest digital cryptocurrency bitcoin began t...

Blockchain

Interpretation of wallet data: The exchange holds more than 12.4 billion mainstream currencies, who is the largest Holder?

QUICK TAKE The cryptocurrency exchange currently holds at least $12.4 billion in Bitcoin, Ethereum and USDT (Tether) ...

Finance

The Block Editor-in-Chief 5 Innovative Projects Worth Paying Attention to

Promising emerging projects include derivatives protocols, governance platforms, and infrastructure, among others. Au...

Blockchain

After FCoin's "incident", key figures from the team responded!

On the evening of February 12, an announcement on the FCoin Exchange regarding "the latest progress of system ma...

Blockchain

The second "uprising" of the exchange

After the seventy-four events of the 17th year and the baptism of the bull market at the end of the year, the three m...

Blockchain

Lawyer's point of view | Analysis of the regulatory environment behind the investigation of the currency exchange

Author: Hu Tao Source: The chain catcher's recent investigation of the currency exchange has triggered industry ...