One for the history books! ✨

Venom Ventures Fund, a Web3 and blockchain innovation fund managed by Abu Dhabi-based investment fund manager Iceberg Capital, has committed to a $5M investment in Everscale to help it further expand its development teams and boost its number of ecosystem projects.

Iceberg Capital Limited launched the Venom Ventures Fund in partnership with Venom Foundation, the first officially licensed and regulated layer-1 blockchain operating within the Abu Dhabi Global Market (ADGM).

The Venom and Everscale teams will be working together to further develop both blockchains and their respective ecosystems, at the same time bringing blockchain adoption closer to real business use cases. Current initiatives such as digital asset tokenization platforms, a full framework for CBDCs, stablecoins and payment solutions with crypto-to-fiat gateways are already making good headway.

Check out all the partnership details on Cointelegraph 👈