Private Accounts, Tokenization, and Healthcare Infrastructure Captivate Investors

Blockchain-based startups continue to attract funding even in the current bear market. In October, MetaMask partner Blockaid raised an impressive $33 million. However, the overall funding in the crypto industry has dropped to levels last seen in 2020, with $2.1 billion raised over 297 deals in the third quarter of 2023, according to Messari. During bear markets, investors tend to scrutinize projects more carefully and look for real-world applications that offer tangible value. This is why private accounts, tokenization, and healthcare infrastructure have become attractive investment opportunities in the crypto space.

Private Accounts on the Rise

One of the notable developments in the blockchain industry is the rise of private accounts. London-based fintech Untangled Finance recently raised an impressive $13.5 million to accelerate its efforts in bringing institutional-grade credit on-chain. With a focus on private credit markets, Untangled Finance aims to tokenize real-world assets like invoices and SME loans into on-chain structured credit pools. This enables the issuance of collateralized debt notes to both DeFi and traditional finance (TradFi) investors. The funding will catapult Untangled Finance’s expansion, allowing it to access a vast network of verified asset originators across 60 countries.

Nocturne, a protocol enabling on-chain private accounts, also secured $6 million in seed funding. This round was co-led by Bain Capital Crypto and Polychain Capital, and received support from Ethereum founder Vitalik Buterin and other members of the Ethereum community. Nocturne’s protocol combines stealth addresses, zero-knowledge proofs, and account abstraction to enable private accounts on public blockchains. The funding will facilitate the deployment and development of Nocturne’s protocol, while also supporting legal efforts to comply with changing regulatory requirements.

Tokenization: Unlocking Value

Tokenization is another area garnering investor attention. Account Labs, a web3 wallet provider, raised $7.7 million in funding from prominent investors such as Amber Group, MixMarvel DAO Ventures, and Qiming Ventures. The firm recently launched its UniPass Wallet app on Polygon, which leverages account abstraction to allow users to create and access a self-custody web3 wallet using their Google account. Users can easily top up their wallets with any Mastercard or Visa card. Account Labs aims to meet the growing demand for stablecoin transactions in Southeast Asia.

Waterfall Network, a layer-1 protocol, secured $2 million in funding ahead of its mainnet launch. Bytrade Lab, an infrastructure provider, led the funding round and became a key investor and user of the Waterfall Network. The protocol, which is Ethereum Virtual Machine (EVM) compatible, leverages Directed Acyclic Graph (DAG) technology for unlimited scalability. Waterfall Network is also collaborating with BlueWave Corporation to develop its smart contract platform.

Revolutionizing Healthcare Infrastructure

Blockchain technology is revolutionizing the healthcare industry by improving data security and record accessibility. Rymedi, a blockchain-based healthcare data exchange platform, raised $9 million in a Series A funding round. The round was co-led by RW3 Ventures and White Star Capital, with participation from other investors, including Blockchange Ventures and Avalanche’s Blizzard Fund. Rymedi currently serves over 1 million patients in more than 1,200 locations worldwide. The funding will enable Rymedi to enhance its data security measures and improve healthcare record accessibility for patients.

Editor Notes: The Future is here

The increasing interest in private accounts, tokenization, and healthcare infrastructure in the blockchain industry underscores the growing recognition of the technology’s potential beyond speculative investments. Investors are now seeking out projects that offer real-world applicability and long-term value. Private accounts provide enhanced privacy and security, while tokenization unlocks the value of assets through increased liquidity. In the healthcare sector, blockchain technology improves data security, interoperability, and patient care. These developments are propelling the crypto industry forward and attracting a diverse range of investors.

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