Advanced Blockchain AG

Share Issue/Capital Change • Mar 31, 2022

News Details

Corporate | 31 March 2022 08:34

Composable Finance, an Advanced Blockchain incubation and investment, raised $32 million dollars at a $400 million dollar total token valuation

DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Expansion

31.03.2022 / 08:34

The issuer is solely responsible for the content of this announcement.

Composable Finance ( https://www.composable.finance ), an investment and incubation of Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) has closed its Series A funding round, raising over $32 million dollars at a total token valuation of $400 million. The round included prominent blockchain investors such as GSR, Tendermint, Coinbase, Jump Capital, and Spartan Group.

“Our incubation, Composable Finance, has in short-time been able to position itself as a successful player in the DeFi space. Advanced Blockchain will continue to provide resources and assistance for the further growth of Composable Finance”, says Robin Davids – Head of Strategy at Advanced Blockchain AG.”

As Advanced Blockchain is an early investor in Composable Finance, this new financing round represents a notable increase in the value of the token position held within the company. In June of 2021, Advanced Blockchain, through a subsidiary, acquired 5.7M LAYR tokens by leading Composable’s first financing round with a $2M investment at a $35M valuation. The 5.7M tokens represent 5.7% of the LAYR token supply.

Advanced Blockchain continues to deploy valuable resources towards the success of Composable Finance as this project is not only incubated through Advanced Blockchain but also represents their single largest investment to date.

“Advanced Blockchain has supported us with a lot of know-how and their large network of investors, which has enabled us to scale strongly and develop products for our community.  The entire team at Composable Finance is grateful for their continued support and we look forward to building the future of DeFi together.” – Karel Kubat, CTO of Composable Finance

About Composable Finance

Composable Finance builds cross-chain and cross-layer solutions so digital assets can communicate and move freely between different blockchains and ecosystems. Composable accomplishes this by building an ecosystem that possesses a holistic toolset that abstracts away the difficulties users and developers face, when they attempt to navigate the siloed blockchain space. Composable allows developers to deploy DeFi applications capable of operating autonomously across several Layer 1 or Layer 2 blockchains. These next-generation DeFi applications require robust cross-chain and cross-layer infrastructure, including an array of intuitive developer tools for a more inclusive and composable future, for the next DeFi revolution.

About Advanced Blockchain AG

Advanced Blockchain AG is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists and mathematicians dedicated to developing the future of Web 3.0. Group-wide, the team consists of more than 200 members, covering various disciplines enabling the firm to innovate in different ecosystems of the industry.

For more information about Advanced Blockchain AG and its various projects and investments, please visit: https://www.advancedblockchain.com/

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31.03.2022 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	Advanced Blockchain AG
	Scharnhorststraße 24
	10115 Berlin
	Germany
Phone:	+4930403669510
Fax:	030403669511
E-mail:	info@advancedblockchain.com
Internet:	www.advancedblockchain.com
ISIN:	DE000A0M93V6
WKN:	A0M93V
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1316369

End of News	DGAP News Service