Coinweb has closed a USD2 Million fundraising round from SAVA Investment Management, buying back $CWEB from the legacy team and founders

April 04 06:27 2023
Coinweb has closed a USD2 Million fundraising round from SAVA Investment Management, buying back $CWEB from the legacy team and founders
Coinweb, a layer two cross-chain computation platform, has been in development since 2017. Some of the founders, early contributors, and previous team members who are no longer actively involved in the project have agreed to sell their holdings.

Hong Kong – 3 April, 2023 – SAVA Investment Management, a licensed fund manager registered in the Cayman Islands and British Virgin Islands, has partnered with Coinweb to buy back 6% of the total supply of CWEB tokens.

Johan Ditz Lemche, Managing Director of SAVA Investment Management, said “We are delighted to support and invest in Coinweb. The project has shown tremendous progress in its technology and well-developed business strategy. We recognise Coinweb’s resilience and dedication to innovation within the current environment of the digital asset space.”

Toby Gilbert, CEO & Co-Founder, expressed his satisfaction with the partnership and explained that the tokens will be used for continued ecosystem build-out, as the project moves to full production readiness in anticipation of the mainnet launch. “We are proud to announce this strategic partnership. SAVA understands and is aligned with our core values. This is a significant vote of confidence during this challenging period. The remaining founding members and I are extending both the lockup and vesting period of our own tokens to show our long-term commitment to the project and give a strong signal to our community.”

In 2022 Coinweb released a cross-chain tokenisation platform; LinkMint, a native marketplace; DeconX, and a multi-tenancy wallet. The blockchain-agnostic protocol lowers the barrier to entry for large enterprises while ensuring the continuity of the liveness of these projects.

About Coinweb:

The Coinweb Protocol is a platform used to run decentralised applications on top of multiple different blockchains using them as one. This allows developers of applications to combine the best properties and functionalities of each blockchain.

Coinweb Labs is a design and build consultancy service that creates custom-built and turnkey solutions for decentralised applications interacting with Web3. Coinweb Labs is responsible for building third-party projects on top of the Coinweb protocol and incubating new projects.

Coinweb has closed a USD2 Million fundraising round from SAVA Investment Management, buying back $CWEB from the legacy team and founders.[1] 

Coinweb, a layer two cross-chain computation platform, has been in development since 2017. Some of the founders, early contributors, and previous team members who are no longer actively involved in the project have agreed to sell their holdings.

SAVA Investment Management, a licensed fund manager registered in the Cayman Islands and British Virgin Islands, has partnered with Coinweb to buy back 6% of the total supply of CWEB tokens.

 Johan Ditz Lemche, Managing Director of SAVA Investment Management, said “We are delighted to support and invest in Coinweb. The project has shown tremendous progress in its technology and well developed business strategy. We recognise Coinweb’s resilience and dedication to innovation within the current environment of the digital asset space.” 

Toby Gilbert, CEO & Co-Founder, expressed his satisfaction with the partnership and explained that the tokens will be used for continued ecosystem build-out, as the project moves to full production readiness in anticipation of Mainnet launch. “We are proud to announce this strategic partnership. SAVA understands and is aligned with our core values. This is a significant vote of confidence during this challenging period. The remaining founding members and I are extending both the lockup and vesting period of our own tokens to show our long-term commitment to the project and give a strong signal to our community.”

In 2022 Coinweb released a cross-chain tokenisation platform; LinkMint, a native marketplace; DeconX, and a multi-tenancy wallet. The blockchain-agnostic protocol lowers the barrier to entry for large enterprises while ensuring the continuity of the liveness of these projects.

Coinweb also recently announced its partnership with Ceffu, the newly rebranded Binance custody solution. Ceffu will manage a portion of Coinweb’s treasury reserves, utilising their secure cold storage solutions with insurance coverage.[2] 

About Coinweb:

The Coinweb Protocol is a platform used to run decentralised applications on top of multiple different blockchains using them as one. This allows developers of applications to combine the best properties and functionalities of each blockchain.

Coinweb Labs is a design and build consultancy service that creates custom-built and turnkey solutions for decentralised applications interacting with Web3. Coinweb labs is responsible for building third-party projects on top of the Coinweb protocol and incubates new projects.

For more information visit:

Website: https://coinweb.io Twitter: @CoinwebOfficial

Telegram: Coinweb.io

CONTACT INFORMATION:

Ain Mohd

Tel. +66 6143 28757

Email: ain@coinweb.io

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