Following the recent partnership between Cardano and Chainlink, the blockchain’s commercial arm Emurgo has reportedly announced that it would invest $100M into Cardano to facilitate its DeFi projects and NFTs. It implies that Emurgo would be launching a new product that focuses on startups that want to build on the blockchain. The company made the announcement on Monday.
Investment Fund Will Focus on the Developing And Developed Markets
According to official press releases, Emurgo will be launching the investment vehicle in two branches with specific approaches, Emurgo Africa and Emurgo Ventures. Emurgo Africa will assist over three hundred regional startups in the developing continent via seed funding to build on Cardano’s blockchain. The decision will make Africa adopt Cardano as a technological platform for its solutions.
The second one Emurgo Ventures will address the developing markets. It will enable the building of solutions on the blockchain by being the seed investor in DeFi Startups and NFTs. Emurgo has completed over a dozen investments in Cardano projects.
The company’s CEO Ken Kodama, said that they are focused on facilitating the development of Cardano’s decentralized space with a variety of services to cater to the expanding crypto community.
Cardano Has Made Other Partnerships This Week
Today, Cardano announced it would soon have its Stablecoin, Djed. According to CEO Charles Hoskinson, the launch of the stablecoin is in partnership with COTI, a software development company. Djed will run on the Cardano blockchain.
A stablecoin maintains a stable value with respect to fiat currencies. Stablecoins like USDT are pegged to the dollar. Others, such as Digix, are pegged to commodities like Gold. The value of Djed will be stable using an algorithm, leveraging smart contracts on the blockchain. That will ensure that Djed’s value doesn’t exceed $1.
The stablecoin will enhance the growth of the eco-space, especially with the blockchain supporting smart contracts. Investors, including institutional and private have good expectations about the decentralized platform that has been described as the direct rival of Ethereum. COTI Group Executive Shahaf Bar-Geffen said that Djed would enable users to maximize control over their transactions due to its low fees.
Last week, Cardano partnered with Chainlink to facilitate the building of various DeFi projects through its oracles. This move finally materialized after almost a year of negotiations and speculations. Chainlink, like Emurgo, will facilitate the building of decentralized applications that could show real-time data and statistics relating to weather, sports, etc., by supplying data.