<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Decentralized finance (DeFi) protocol <a aria-label="Array announced (opens in a new tab)" href="https://mondovisione.com/media-and-resources/news/array-secures-10-million-investment-from-temasek-family-for-next-generation-alg/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Array announced</a> it had reached a valuation of $100 million after bagging a $10 million investment from Singapore-based investment behemoth Temasek. Array is working on an algorithmic currency system to provide greater scalability, stability, and efficiency than other cryptocurrencies.</p> 
<h3 id="what-is-array">What is Array?</h3> 
<p><a aria-label="Array (opens in a new tab)" href="https://arrayfi.io/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Array</a>, an omni-chain protocol developing a next-gen algorithmic currency system, announced on Monday it had secured a $10 million injection from the Singapore-based investment firm Temasek. With the new investment, Array’s valuation exceeded $100 million, “making it one of the most valuable algorithmic currency systems in the market,” the company said in the press release. Array said this is its second funding round.</p> 
<p>Array said it is developing an algorithmic currency system that offers users a more efficient, stable, and scalable asset than traditional crypto assets such as Bitcoin. This would make Array “a promising candidate for a variety of use cases, including payments, remittances, and investment,” the company said in the announcement.</p> 
<p>The protocol launched a native token, $ARA, a decentralized reserve currency, a wealth storage method backed by the Array treasury. Compared to other cryptocurrencies, $ARA has two prices – the market price and the floor price. According to its blog post on Medium, Array develops a super stablecoin “through an algorithm system invented by itself.” This system prevents $ARA’s floor price from breaking, meaning the token will never be liquidated, Array said in the post.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="temasek-continues-investing-in-crypto-after-ftx-fallout">Temasek Continues Investing in Crypto After FTX Fallout</h3> 
<p>Temasek’s investment in Array comes just months after the collapse of one of the biggest crypto exchanges, FTX. Temasek, just <a href="https://tokenist.com/singapore-governments-fund-among-ftx-investors-monitoring-developments-report/" rel="dofollow" class="deco-link">one of the prominent investors</a> in FTX, saw reputational damage after it was revealed that FTX was one of the biggest financial frauds in US history.</p> 
<p>The investment giant participated in <a href="https://www.reuters.com/technology/crypto-firm-ftx-trading-raises-900-mln-18-bln-valuation-2021-07-20/#:~:text=Crypto%20firm%20FTX%20Trading's%20valuation%20rises%20to%20%2418%20bln%20after%20%24900%20mln%20investment,-Reuters&amp;text=July%2020%20(Reuters)%20%2D%20FTX,fundraises%20for%20a%20crypto%20company." target="_blank" aria-label="FTX’s $900 million funding round (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">FTX’s $900 million funding round</a> in 2021, which valued the crypto exchange at $18 billion. The exact size of Temasek’s investment was not disclosed.</p> 
<p>But even though Temasek has made several notable crypto-related investments in FTX, Coinbase, and <a href="https://tokenist.com/animoca-labs-to-raise-100m-in-funding-round-led-by-temasek-report/" rel="dofollow" class="deco-link">Animoca Labs</a>, its portfolio primarily consists of technology, healthcare, and financial services companies. While Singapore’s Ministry of Finance wholly owns it, the conglomerate operates independently, with a portfolio worth over $400 billion.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>What do you think about Array’s idea of a “super stablecoin”? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/super-stablecoin-platform-array-raises-10m-from-temasek/">“Super Stablecoin” Platform Array Raises $10M from Temasek</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

“Super Stablecoin” Platform Array Raises $10M from Temasek

목차

Tokenist

2023년 5월 1일에 게재된 다른 기사

Tencent Cloud Plans to Offer a Deepfake Creation Tool For $145

Nigeria’s SEC Mulls Over Asset-Backed Tokens but Not Crypto

Blur launches P2P NFT lending protocol

SHIB Price Consolidates as Traders Anticipate Potential Reversal

Nigeria ignores crypto in major digital asset regulatory decision

Bitcoin Price Prediction as Pumps Up 7% in 7 Days – Where is BTC Heading Next?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!