Financial Technology innovation

Ethereum stalwarts Digix Global and OmiseGO are backing the newly-established GB Blockchain Labs, a part of Global Brain, the tech-focused venture capital firm from Japan with $500m asset under management.

GB Blockchain Labs (GBBL) says it plans to build a community driven blockchain ecosystem, connect the right project with the right human capital, and contribute to the community through research and knowledge sharing.

As a venture capital operation, GBBL will continue to back blockchain startups through financing. With the recent movement of Initial Coin Offerings (ICOs), the company looks to support blockchain startups from equity finance to ICO in order to pursue and create a hybrid financing structure for the startup's growth.

Singapore-based Digix Global uses Ethereum and IPFS to tokenise gold. OmiseGO is a crowdfunded blockchain division of Southeast Asia payments company Omise.

Kai Cheng Chng, CEO & Founder of Digix and Jun Hasegawa, CEO & Founder of Omise and OmiseGO will be joining the advisory board of GBBL. They are joined on the board by Ron Hose, CEO & Founder of Coins and Thomas Greco, ex-special advisor to Ethereum Foundation, special advisor to OmiseGO.

Commenting on his appointment, Jun said, "With its vision, I am confident that GB and its new subsidiary will be adding a lot of value into the blockchain community. I am excited and truly honored to be working closely with the team to provide the best of my knowledge and experience, and help drive transformation through wider adoption of blockchain technologies and its capabilities."