DMG Blockchain announces strategic investment of $2M in Bosonic

Jul. 29, 2021 7:46 AM ETDMG Blockchain Solutions Inc. (DMGGF), DMGI:CABy: Khyathi Dalal, SA News Editor1 Comment
  • DMG Blockchain Solutions (OTCQB:DMGGF) announced a $2M strategic investment in San Francisco, California-based Bosonic, Silicon Valley tech company, targeted at institutional adoption of cryptocurrencies and is synergistic with its recent investment in Brane Capital.
  • Bosonic provides critical infrastructure eliminating counterparty credit and settlement risk in Digital Asset Markets.
  • The investment in, and resulting partnership with Bosonic, facilitates DMG's access to Bosonic's two primary technology infrastructures - institutional exchange and Layer-2 blockchain-powered clearing and settlement solutions designed to eliminate counterparty credit and settlement risk.
  • "By completing this transaction, DMG's new partnership will help the company develop more financial service-related functionality for the Blockseer Ecosystem. This initiative represents significant potential monetization of existing Blockseer clients and the ability of DMG for the first time to aggressively enter the consumer market for Blockseer platforms," CEO Sheldon Bennett commented.
  • DMG investment is part of a larger strategic investment into Bosonic that eventually converts into Bosonic preferred shares and DMG receives these preferred shares based on a 25% discount to a pre-money valuation in Bosonic's next equity financing round or a $200M market capitalization, whichever is lower.

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