One of the most important things that have been keeping the digital currency ecosystem running is partnerships. With a strategic partnership, a blockchain project would test new heights and make its project more accessible to potential users and investors.
With this, Joseph Lubin – the co-founder of Ethereum (ETH) and founder of ConsenSys just made one of his most strategic, unprecedented investment ever.
Ethereum (ETH) is one of the most popular digital currency in the world, and its blockchain has been widely used and adopted by developers all over the world. The blockchain project has a very strong backing it, and Joseph Lubin is one of the backbones of the blockchain project.
Joseph Lubin Invests in DrumG
Recently, the blockchain startup of Joseph Lubin – ConsenSys – which was founded a couple of years after Ethereum (ETH), just invested $6.5 million into DrumG. DrumG is a stealth startup that was founded by top executives of R3. R3 is one of the biggest rivalries of Ethereum (ETH). After the partnership with DrumG, Joseph Lubin is now a part of the sole outside board of directors of DrumG Financial Technologies, making ConsenSys a minority stakeholder in the firm.
According to reports on Forbes, Lubin said he can’t disclose the investment terms, but the firm will have a considerable presence within the ecosystem of ConsenSys. ConsenSys is already handling over fifty projects at the moment, and most of the projects are from the finance sector, which makes DrumG a great fit among them also.
DrumG is a firm that is aimed at providing institutional financial services using blockchain technology to enterprise users. At the moment, the firm has over twenty employees in London, Bermuda, and New York, and the firm will use the fund invested by Joseph Lubin to expand and complete its ongoing projects.
Ethereum (ETH) Price Today – ETH / USD
At the press time, Ethereum (ETH) is trading at $230 after a decrease of about one percent over the past twenty-four hours. The digital currency currently has a market cap of $23.61 billion and its trading volume over the past twenty-four hours is $1.59 billion.