US investment fund GEM commits $60m to Indonesian blockchain firm Ekta

US investment fund GEM commits $60m to Indonesian blockchain firm Ekta

Bitcoin on the blockchain .

Despite the turmoil in the global crypto market, Bali-based blockchain company Ekta has secured a $60-million investment commitment from US investment fund Global Emerging Market (GEM), the company said in a statement on Tuesday.

Ekta founder and CEO Berwin Tanco said the fresh funding will be used to develop Ekta’s ecosystem, which includes its NFT collections, marketplace and a hybrid exchange. “We’ll also hire more skilled developers, build our marketing team and add liquidity into our marketplace and hybrid exchange,” Tanco told DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter