Today, Settlemint, the blockchain development company that focuses on enterprise use cases, said it has received an undisclosed amount of financial support from Hashgraph Group (THG), affiliated with Hedera DLT. Settlemint already supports at least eight blockchains and will also add integration with Hedera.
One of Settlemint’s products is middleware that abstracts the details of DLT and aims to accelerate solution development.
The latest funding follows a $16 million Series A raised in 2022. Many of Settlemint’s solutions have focused on either supply chain or finance. For example, it developed a supply chain traceability solution for AB InBev, the brewing company that owns Budweiser, Stella Artois and Corona. This helped Belgian bank KBC launch a loyalty token, Kate Coin. And most recently, it worked with Sony Bank to test a stablecoin on the Polygon blockchain.
A Focus on Enterprise DLT
Among public DLT networks, Hedera is one of the most enterprise-focused, with more than 30 board members including IBM, Google, Nomura, Standard Bank and Worldpay.
Hedera has half a dozen subsidiaries that support the Hedera ecosystem often using generous allocations of Hedera HBAR tokens. Some are more focused on marketing and financing. Hashgraph Group focuses on venture capital and business building solutions. It has a suite of Hashgraph for Enterprise (H4E) products that it plans to integrate with the Settlemint platform.
“We are leveraging this investment to accelerate the deployment of cutting-edge blockchain solutions on Hedera that address real-world challenges, particularly in critical areas like finance, supply chain traceability, sustainability and data integrity. data,” said Matthew Van Niekerk, CEO and Co-Founder of SettleMint.
While Bitcoin investors are making profits of over 40% since the US election, Hedera’s HBAR has had a wilder ride. Currently, it is showing gains of over 400% since the election, up from 600% last week.
