The company also lists ALBT Token, which is now available on Uniswap.
Dutch company AllianceBlock is coming out of stealth mode after more than two years of product development. Today it announced the completion of the Token Generation Event (TGE) and instant listing on Uniswap.
The move follows a very successful oversubscribed private sale with $0.5 million raised. Now the project is ready to move to the next stage, which is “coding the v1.0 platform and expanding the AllianceBlock ecosystem,” the company announced in a press release.
Using many breakthrough technologies, AllianceBlock is building the first global compliant capital market ecosystem, which aims to bridge traditional finance (TradFi) and DeFi.
AllianceBlock is developing the Prometheus Protocol, which is a multi-layered architecture designed to solve some of the biggest pain points of traditional finance while funneling potentially trillions of dollars of capital into the blossoming decentralized finance (DeFi) industry.
The team at AllianceBlock says it is tackling the three main barriers to the adoption of decentralized technologies by regulated entities: compliance, security, and user experience to help fast track the evolution of blockchain and DeFi and build the first compliant gateway for TradFi funds.
The successful completion of AllianceBlock’s TGE marks the first step towards disrupting the $100 trillion global securities industry. “The formation of a truly decentralized capital market is a long-overdue upgrade to the traditional investment banking model, helping to democratize access to capital markets for the first time in history,” said Rachid Ajaja, founder and CEO of AllianceBlock.
“The Token Generation Event is an important milestone for AllianceBlock and we look forward to an exciting journey ahead,” added the project’s founder and CTO Matthijs deVries.
“In reaction to the 2008 GFC, the past decade has seen the emergence of a parallel financial ecosystem prioritizing the concept of decentralization,” said founder of AllianceBlock Dr. Amber Ghaddar ”AllianceBlock expands on this and is building the bridge between TradFi and DeFi with a focus on cross border regulatory compliance.”
Over the past two years, AllianceBlock has been incubated by three of Europe’s most prestigious incubators – Station F, L39, and Kickstart Innovation in Zurich. The AllianceBlock team has forged partnerships with the likes of Quant, Holochain, Orion Protocol to help lay down the early framework for a decentralized capital market.
Led by a team of investment bankers and quants with backgrounds including JP Morgan, Barclays, BNP Paribas, Goldman Sachs, AllianceBlock will continue forming an ecosystem of participants from TradFi and DeFi, prior to the testnet launch scheduled for Q2, 2021.