25 Nov 2019 Jane Whitmoore
Newest “Libra Association” Member Bison Trails Secures $25,5 Million Funding
Facebook’s stablecoin project Libra managed to cause regulatory havoc worldwide, as there are plenty of concerns regarding Libra’s applications and future. The pressure lead to some of the biggest partners in the Libra Association to quit their participation.
Despite the uncertainties, Libra Association’s latest partner – the New York-based company Bison Trails secured a $25.5 million in Series A funding. Bison Trails specializes in building end-to-end enterprise blockchain solutions.
Bison Trails received financial support from Blockchain Capital, as well as Coinbase, Consensys, Sound Ventures, Galaxy Digital and others. Joe Lallouz, CEO of Bison Trails, stated that the main reason behind staring the Bison Trails venture is to bring ease of building a decentralized ecosystem and transparency in the enterprise sector. “We are going inevitably towards blockchain and cryptocurrencies, so we wanted to make a product for those enterprises, which are bold enough to leap into a nascent market.
We helped multiple companies set geographically distributed nodes and build a safe, transparent, and highly available system across multiple blockchains”, Lallouz added.
The funding of projects like Bison Trails could make blockchain’s adoption faster and with a higher advancement rate. Coinbase officials, for example, think that the building of high-availability blockchain systems could boost the mass adoption of the technology.
Emilie Choi, the chief operational officer at Coinbase, shared her views of correlation between Coinbase and Bison Trails in terms of long-term vision. “The advancements in the crypto sector would eventually help the worldwide adoption of blockchain technology. Blockchain protocols will continue to evolve as an active participation method (e.g., staking and voting), generating a need for solutions, as these of Bison Trails.
The Series A funding for Bison Trails is not the first case of Libra Association member raising substantial amounts of cash. Earlier in 2019, another Libra Association founding member – Anchorage, secured a $40 million Series B funding for their project. Visa, which has already left the Libra Association pack, invested in Anchorage in the Series B round too. What we are observing is a repetition of the same situation with Coinbase, which are also part of the Libra Project, but have invested in Bison Trails.Cryptocurrency Crypto Market stable coin crypto cryptocurrencies investing cryptocurrency news investment crypto news Stablecoin Stablecoins Facebook Libra