Global alternative investment group, with expertise in innovative, cross border transactions, adds next generation financial infrastructure to its investments portfolio
SINGAPORE, Aug. 28, 2022 /PRNewswire/ — The Lightnet Group (“Lightnet”) announced today it has secured a $50 million capital commitment from LDA Capital Ltd (“LDA”) to grow its infrastructure, operations, and expand its technological partner’s (Velo Labs Technology) blockchain technology. Lightnet will have the option to increase the $50 million to a total commitment of up to $100 million over the next three years. The funds will be utilized to facilitate web 3.0 payment and blockchain ledger-based remittance services focused across Asia Pacific and globally around the world.
“Lightnet’s next generation financial infrastructure, along with Velo Labs’ disruptive technology, will be the future rails for dynamic and regulated markets providing financial mobility and inclusivity across Asia,” commented Warren P. Baker IIIManaging Partner, and Co-Founder at LDA Capital.
This investment will allow the Lightnet Group to boost growth in the payment and remittance space, expanding operating corridors and opportunities, obtaining licenses – enabling a transition of existing payment and remittance systems towards new technology and building the #1 CeDefi banking network in Asia through its licensed subsidiaries and its continuously growing number of partners. LDA’s capital …