Advanced Blockchain AG Launches Blockchain Incubator with Leading Startup Accelerator in Nordic Countries

DGAP-News: Advanced Blockchain AG / Keyword (s): Cryptocurrency / Blockchain / Expansion
03.08.2021 / 08:50
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Advanced Blockchain AG (Frankfurt, Düsseldorf Primary Market, XETRA: ISIN DE000A0M93V6) is pleased to announce that it has successfully opened a new office in Stockholm and signed a Memorandum of Understanding with Sting, the main accelerator in the Nordic countries .

To extend their reach in the Nordic countries, Advanced Blockchain has developed a partnership with Sting. Through this partnership, Advanced Blockchain AG will become the largest investment vehicle for the blockchain ecosystem in the Nordic countries. Together with Propel Capital, the investment arm of Sting and Sweden’s most active private seed investor, Advanced Blockchain aims to invest in newly incubated blockchain projects as early as possible.

Following his appointment as a member of the company’s board earlier this year, Simon Telian will also lead the newly established partnership and act as a driving force behind the company’s northern expansion plans. Telian has extensive experience in European venture capital and was most recently responsible for the growth of a Swedish high-tech startup.

“This Nordic expansion will strengthen our ecosystem of co-investors and blockchain innovators. At the same time, Advanced Blockchain and its underlying holding companies will be able to leverage their businesses through our strong regional network, ”said Telian, Managing Director and Group Chief Investment Officer of Advanced Blockchain AG.

“We are proud to have signed this partnership with Advanced Blockchain AG, which will enhance the value proposition for startups in the blockchain space in the Nordic region. We see many interesting applications for blockchain technology in multiple industries and this partnership will add both skill and capital to these applications, ”says Pär Hedberg, Founder and CEO of Sting.

Similar to its partnership with SOSV, the ultimate goal of Advanced Blockchain’s collaboration with Sting is to identify strong teams with bold ideas who want to build impactful projects in the Web 3.0 ecosystem. DeFi (decentralized finance, the future of financial services), NFTs (non-fungible tokens, the future of digital property), as well as asset tokenization (making assets more accessible) are key areas where Advanced Blockchain plans to promote growth and further expand their portfolio. Details of the partnership are expected to be announced in the coming weeks.

About Sting:
Stockholm Innovation & Growth (Sting) was founded in 2002 with the vision of becoming Europe’s most attractive and comprehensive ecosystem for tech startups. Their accelerator program was named the best accelerator in the Nordic countries and main track for startups in Stockholm. To date, Sting has secured over 750 million euros in private and public funding, making it the most successful and dynamic incubator in the Nordic countries.

More information can be found at https://sting.co/.

Further information on Advanced Blockchain AG and its various projects and investments can be found at https://www.advancedblockchain.com/.

08/03/2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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