Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 30 July 2018, 18:00 HKT/SGT
Share:
    

Source: DREP Foundation
360 Finance spin-off invests in Singapore Blockchain Startup DREP Foundation
Newly launched 360 Innovation Capital draws support from Qihoo 360, 360 Finance and 360 AI Institute

SINGAPORE, July 30, 2018 - (ACN Newswire) - Singapore start-up DREP Foundation (DREP) has received an undisclosed investment sum from 360 Innovation Capital, an investment fund with strategic affiliation to 360 Finance, one of the biggest fintech companies in China. 360 Finance is a spin-off from Qihoo 360, China's largest Internet security company.

DREP Foundation is building a decentralized reputation ecosystem to introduce transparent and reliable reputation systems for both online and offline businesses to plug and play. DREP's suite of solutions, aside from quantifying reputation of users through a series of reputation system mechanisms such as up and down-voting, can also weed out click-bots and duplicate accounts.

360 Innovation Capital aims to support and advance blockchain innovations by providing promising startups with access to capital and knowledge. Their portfolio also includes aelf, EOS Gravity and Zeniex. The team behind the fund will support DREP Foundation with expertise in traditional finance, Internet security and blockchain technology, connecting the DREP Foundation team to valuable resources and networks.

Xiaolong Xu, co-founder at DREP Foundation said, "To be included in 360 Innovation Capital's portfolio adds another layer of validation for the work that we have done and are doing. Their diverse experience with blockchain projects across different industry verticals will prove invaluable to us in determining how we move forward. This is the beginning of an exciting journey of learning and collaborating with them."

Xu was the former Lead Developer at open-source blockchain project Qtum. https://qtum.org/en/

This investment follows a string of strategic partnership announcements for DREP Foundation over the last two months, with the likes of multi-layered transaction blockchain QuarkChain, Indian enterprise-grade big data solution Zebi and Vietnamese travel tech startup Triip.me, among others. The company earlier announced funding from Hong Kong-based cryptocurrency exchange KuCoin.

ABOUT DREP FOUNDATION
DREP Foundation is committed to building a performance-oriented technology infrastructure, supporting high transaction capacity for an ecosystem generating valuable reputation data. Focusing on two industry pain points: lack of user adoption and low transaction throughput, DREP Foundation aims to provide a highly scalable blockchain architecture, DREP Chain, for deployment of a reputation protocol that anyone can use. https://www.drep.org/.

ABOUT 360 INNOVATION CAPITAL
360 Innovation Capital is a blockchain venture fund that aims to promote advancement of blockchain projects through investment, technical auditing and financial expertise. They have strategically partnered with 360 Finance, 360 Cybersecurity Innovation Center and 360 Artificial Intelligence Institute. Blockchain and cryptocurrency projects in their portfolio will gain access to the fund's resources and networks. http://m.360inno.investments/.

MEDIA ENQUIRIES
Trestle Works for DREP Foundation
E: drep@trestle.sg



July 30, 2018 18:00 HKT/SGT
Topic: Investment
Sectors: Daily Finance, Currencies, FinTech/Chains, Venture Capital
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Latest Press Releases
GPS, an Energy Investment Holding in Thailand Completed First Tranche of Subscription of BGBS's Share  
Aug 17, 2018 23:50 HKT/SGT
Road King Announces 2018 Interim Results  
Aug 17, 2018 21:50 HKT/SGT
Changsha IFS and Steven Harrington Join Hands to Introduce New Trends of Pop Culture in Changsha  
Aug 17, 2018 18:40 HKT/SGT
ABCC - the World-class Cryptocurrency Exchange - Announced an Airdrop of 150,000 USDT  
Aug 17, 2018 18:25 HKT/SGT
Spackman Entertainment Group's Frame Pictures Secures Four Major Camera Equipment Deals for Korean Film GIRL COPS And Three Upcoming Korean Dramas: THE GREATEST DIVORCE, THE BEAUTY INSIDE, HUNDRED MILLION STARS FALLING FROM THE SKY  
Aug 17, 2018 18:20 HKT/SGT
Trillium Selected as Plug and Play's Hottest Company  
Aug 17, 2018 14:00 HKT/SGT
FASHIONALLY Designers Set to Dazzle CENTRESTAGE 2018  
Aug 17, 2018 11:30 HKT/SGT
Managing Risk: Reputation events twice as costly for companies since rise of social media  
Aug 17, 2018 10:20 HKT/SGT
Meet The Team Behind AYANA's New Aqua Fleet  
Aug 17, 2018 09:50 HKT/SGT
Los Angeles to host 2018 US China Blockchain and Digital Currency Conference on August 22  
Aug 17, 2018 08:30 HKT/SGT
More Press release >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: