Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) announces that incubation Quasar successfully raised $6 million from several well-established VCs. The round was led by Polychain Capital and Blockchain Capital, along with Figment Capital, Lightshift Capital, and Galileo.

Moving forward, Quasar will operate as an independent entity after Advanced Blockchain AG’s efforts to accelerate the initial phases of project growth, spearheaded by former project lead and now CEO, Valentin Pletnev. Quasar is now working towards the testnet launch, which is scheduled for the first week of August.  Quasar successfully purchased back the entire intellectual property set that was created along with Advanced Blockchain’s Incubation arm; AB.Labs and settled initial incubation costs for its independence.

"Following our successful seed funding round, we would like to thank our investors for the faith they have shown in us. Quasar is already operating independently and we are grateful for all the support Advanced Blockchain has provided us. We are particularly excited about the upcoming testnet launch and look forward to playing a significant role in shaping the future of DeFi.” -Valentin Pletnev, CEO of Quasar

"Quasar has been operating as an independent entity since May. It's been a pleasure working with Valentin to speed up his original concept, and we wish Quas the best of luck going into the coming testnet and full-feature release.” -Simon Telian, CEO Of Advanced Blockchain AG

 

About Quasar 

Quasar makes digital asset management simple, accessible, and secure. The Quasar team has designed a platform to easily create and join Quasar Vaults – independent asset containers equipped with IBC technology, enabling inter-chain value capture in the Cosmos ecosystem and beyond.  

Quasar is democratizing DeFi by making it fair, simple, and transparent. Quasar's platform and vaults make DeFi investing easy for traders while lowering the barriers to entry of vault creation for strategists. For more information about Quasar, please visit

 

Advanced Blockchain AG (Scale, Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovates in different ecosystems and markets of the industry.

For more information about Advanced Blockchain AG, its various projects, and investments, please visit.