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Beam has secured undisclosed funding from "LinkedIn's Japanese equivalent" of Recruit Co., Ltd.
Recruit ad The news revealed on Monday that this investment would be made through its $ 25 million RSP Blockchain Tech fund, which was created last November. Beam too confirmed investment in a Tweet Monday, indicating that Recruit had invested before its launch on Mainnet last month, adding:
"This investment also helps Beam fulfill its mission in Japan when it comes to deploying compliant, scalable and confidential cryptocurrency."
Recruit explained: "The Beam token provides a blockchain with a function that prevents the disclosure of transaction data to third parties and protects the user's transaction information."
Beam went to live back in January and became one of the first crypto-currency based on Mimblewimble, a protocol that makes transactions confidential and reduces the size of the overall blockchain. Since its launch, however, the project has had to deal with technical difficulties. More recently, his network "stopped at block 25709" for a brief period before resuming operations.
Recruit, in his statement on Monday, added that through his RSP Blockchain Tech Fund, which is an initiative between Recruit and its subsidiary Recruit Strategic Partners, Inc. (RSP), it was intended to invest in "promising" startups.
In addition to Beam, Recruit also invested in four other startups in the blockchain space, according to his website. These include the supplier of Shift Payments encrypted debit cards, the startup of the ShoCard blockchain identity, the payment provider of the Veem blockchain and the Japanese bitcoin exchange. BitFlyer.
Image in US dollars via Shutterstock
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