QANplatform Inks USD 15 Million VC Deal For Layer 1 Blockchain By CIOTechOutlook Team

QANplatform Inks USD 15 Million VC Deal For Layer 1 Blockchain

CIOTechOutlook Team | Wednesday, 06 December 2023, 02:39 IST

QANplatform, the quantum-resistant Layer 1 blockchain, has successfully inked a $15 million investment deal with MBK Holding.

MBK Holding, an investment holding company with its main office in Qatar and a subsidiary in the United Kingdom, focuses on investing in technology startups. The Founder and Chairman, H.E. Sheikh Mansoor Bin Khalifa Al-Thani, member of the Qatari ruling family, formerly served for a decade as the director of information technology for The Council of The Qatar Ruling Family Affairs, as per Newsfile Corp.

H.E. Sheikh Mansoor Bin Khalifa Al-Thani, Founder and Chairman of MBK Holding, Jevgenia Kim, CEO of QANplatform, and Johann Polecsak, Co-Founder and CTO of QANplatform made the announcement at the Qatar Science & Technology Park (QSTP), Qatar's premier hub for applied research, technology innovation, incubation, and entrepreneurship.

Aside from the $15 million technology-focused investment commitment, MBK Holding provides growth services to assist QANplatform's worldwide market access and expansion. MBK Holding's focus includes several regional markets such as Qatar, Saudi Arabia, the United Arab Emirates, Turkey, and the United Kingdom, as well as additional worldwide prospects.

A Layer 1 blockchain platform, such as Ethereum or QANplatform, serves as the foundation for all blockchain projects and applications. It is analogous to a computer's operating system. It is the essential foundation upon which the ecosystem may construct an infinite number of solutions. QANplatform will be the first EVM-compatible, quantum-resistant Layer 1 hybrid blockchain platform on which developers may create smart contract, DApp, DeFi, DAO, token, NFT, Metaverse, CBDC, tokenized asset, and strong Web3 solutions in any programming language on top of the QAN blockchain platform.