Borderless Capital, a venture capital firm, raised a $25 million blockchain fund in Miami

Borderless Capital’s support for Algorand-based development has gradually changed again. The venture capital firm launched a new $25 million fund in Miami.

In its announcement on Wednesday, the investment company stated that the $25 million fund will focus on supporting blockchain startups in Miami.

This venture capital firm called Borderless.Miami Fund cooperates with the stablecoin issuer Circle to promote the development of Miami’s digital payment and digital capital market.

In addition to direct investment in blockchain startups, Borderless Capital also seeks to launch Algorand Miami Accelerator. Algorand Accelerator Program in Europe And Asia has been committed to stimulating and encouraging the development of blockchain in their respective jurisdictions.

According to reports, with the addition of Circle, the planned USD 25 million fund will use USD Coin (USDC) stablecoins and other aspects of Circle’s business to promote breakthroughs in digital payment technology based on the Algorand blockchain.

According to the announcement on Wednesday, the blockchain investment fund has received the support of the city council. When commenting on this development, Mayor Francis Suarez described the fund as a manifestation of a public-private partnership that is driving the development of blockchain innovation in Miami, adding:

“With the support of Algorand, Circle and other top local partners, we are building an ecosystem that fits our vision for Miami. I am very happy to be able to work with Borderless.Miami to make Miami the center of the digital capital market, and we are pursuing to be ‘Capital Capital’.”

In fact, Miami has positioned itself as Cities that are forward-looking in terms of encryption and blockchain adoption In recent months. The city will host the Bitcoin 2021 conference on June 3, More than 50,000 attendees It is expected to add luster to the three-day event.

Borderless Capital CEO David Garcia (David Garcia) said that Miami is an ideal place for blockchain development. As part of the announcement, Garcia revealed that the venture capital company is moving its headquarters to the city.