Crypto Valley Venture Capital (CVVC) Funds Africa to Propagate Blockchain
Here are the reasons why CVVC chose to back African start-ups!
African Blockchain start-ups are now funded by a Switzerland-based ‘Crypto Valley Venture Capital’. This venture capital firm has also partnered with the Swiss State Secretariat for Economic Affairs (SECO).
What is this mission about?
They are on a mission to amplify and accelerate upcoming companies in the African subcontinent, who are new users of cryptocurrencies like (1) Bitcoin (BTC) 2. Bitcoin Cash (BCH) 3. Ethereum (ETH) 4. Cardano (ADA) 5. Dogecoin (DOGE) 6. Binance Coin (BNB) 7. Polkadot (DOT) 8. Stellar (XLM) 9. Stablecoins.
CVVC planned to invest in countries/continents that were making use of Blockchain as a service. They initiated their mission to fund 100 such startups for crypto mining, decentralized finance, and their use of Blockchain in Finance.
How does this mission help African Economy?
After Crypto Market Analysis, in Africa, they have currently funded 12 startups by now who have crypto hardware wallets.
With the adoption of Altcoins, ERC20 tokens, Big Data and Blockchain, Africa has become the fastest-growing continent.
Cryptocurrency Regulation News in different countries says that it is the reason behind why the African economy is thriving.
A Conclusive Remark By Venture Capital Firms
It’s a big deal for startup companies in Africa to receive as much as 53% funding backup from venture capitalists. The VC firm – Gideon Greaves is reportedly on a mission to create and manage a data-driven bench-markable account of startups in Africa who have initiated and promoted the use of Blockchain. This will fortify their economy, and facilitate more funding for future African startups.