chepicap.com
The Waves platform has recently raised around $120 million for the development of a private version of its public blockchain, as well as announcing a partnership with BetterTokens. Possibly as a result of these developments, the WAVES token has seen gains of over 30 percent in the last 24 hours.
As reported by Bloomberg, the Waves platform tapped a number of private investors for its new blockchain, and the fundraising was led by London-based financial services group Dolfin.
The $120 million raised will go towards a private network that can be used by governments and corporations, when they want to create their own digital tokens. Many larger entities find that the security and speed of public blockchains is insufficient for their purposes, and private networks with limited numbers of users are preferable
Waves has also recently teamed up with the Switzerland-based Tokenisation Standards Association (TSA), which operates under the brand name BetterTokens. Together, the two will help to assess new tokenization projects on the Waves blockchain. BetterTokens will offer a 'Qualified Token Issuer' status, and Qualified Token Issuers will have priority status on the Waves DEX. There will also be a work group set up to engage with global financial regulators.
The Waves network's native crypto token, WAVES, has seen a huge increase in value over the last 24 hours or so. With these positive fundamentals complementing the general upswing of the crypto market, WAVES is now worth $4.04, up over 30 percent for the 24h period. At its peak around 6 hours ago, the token reached $4.57.
Read more: Rebound: Crypto market cap adds a further $10 billion; up 20% since the weekend