Joe Lubin’s ConsenSys Backs Allinfra, An Unlisted Ethereum-based Infrastructure Investment Startup

According to a press release dated February 21, Joe Lubin’s ConsenSys has backed Allinfra, An Ethereum-based Infrastructure Investment startup. The press release, which was shared with crypto news outlet Cointelegraph, stated that Allinfra will use the blockchain technology of ConsenSys as well as the company’s expertise on asset tokenization. The company did not disclose the exact amount that was invested in the press release.

ConsenSys Backs Allinfra

The Ethereum-based infrastructure investment startup, Allinfra, is a platform that facilitates direct investments for those who are interested in investing in unlisted infrastructure through the Ethereum blockchain. It gives users the power to develop, purchase and transfer economic interests in these assets. This solution is ideal for institutional investors and retail investors alike.

In the press release, Joe Lubin was quoted. The ConsenSys founder said that Allinfra is going to contribute to making the unlisted infrastructure market more equitable and transparent. In his words:

“When it comes to unlisted infrastructure, illiquid assets, traditionally restricted assets, Allinfra will allow a wider audience to efficiently participate in the market and enjoy the economic benefits of these assets.”

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Still on the press release, the CEO and co-founder Allinfra, Dave Sandor, said that in the next few months, the company will be promoting a flagship infrastructure tokenization project.”

ConsenSys Is Making Big Investments Following Staff Downsizing

Last month, ConsenSys participated in a $2 million seed funding round for Monerium, an Iceland-based startup. While Crowberry Capital, an Iceland venture capital firm led the funding round, others participated in it including Hof Holdings, an Icelandic private investment firm.

The company that received the funding, Monerium, was founded in 2016 and is developing a solution that will bridge fiat money and cryptocurrencies by issuing a new type of currency called e-money. The company has a workforce of 14 individuals and is headed by the former chairman of the Iceland central bank, Jon Helgi Egilsson. Other co-founders are Hjörtur Hjartarson, Gísli Kristjánsson, and Sveinn Valfells. They are spread across the US, Sweden, and the United Kingdom.

At the time of the funding, the company was waiting for the approval of its application. This would grant it a license to serve as a financial services company in the region. If the company is able to secure the license, it would be able to function in compliance with the laws of the land as it issues its e-money.

Te co-founder of ConsenSys, Andrew Keys, said that supporting Monerium is in line with the company’s plans to develop the required infrastructure for a future that is more self-sovereign and decentralized.

Still, in January, the incubator firm partnered with AMD, a semiconductor manufacturer, and Hola Holdings. The goal of this partnership was to develop a blockchain-based cloud-computing system.

In December, the company signed a Memorandum of Understanding with SK Group, a South Korean technological holding. The MoU was for an initiative to develop an enterprise blockchain using smart contracts.

All these investments and partnerships come shortly after ConsenSys performed a major downsizing letting go of up to 13% of its staff. These employees were removed from technical and support teams alike. While many in the industry believed the company made the move because of bankruptcy, one of its executives, Vanessa Grellet, said that it was not because of bankruptcy but was a natural movement to fit the needs of the company.

Do you think investing in Allinfra was a smart move by ConsenSys? Share your thoughts in the comment section.


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