Singapore blockchain protocol Rubix Blockchain Pte Ltd (Rubix) announced Tuesday it has secured a $100 million investment from LDA Capital Ltd to grow global operations, support the transition to Web3, and expand its green blockchain community.
Rubix said in a statement that this investment will allow the firm to optimize growth in the Web3 space, expanding education opportunities, policy development, and Web2 to Web3 transition – enabling partners to build various apps on the platform including those that address social and environmental issues.
The funds will also be used to increase internal operations including hiring of employees from around the globe to support the extension of Rubix’s ecosystem.
“We’re thrilled with this partnership and are so glad that LDA Capital recognizes the value of the blockchain for building community and expanding innovation as the web evolves,” said KC Reddy, Founder and Chief Architect of Rubix.
“Rubix is, first and foremost, a community; this investment will allow us to grow that community and expand our green blockchain as a shared platform upon which partners can build any number of solutions. Our unique architecture makes Web 3 and even Web 5 accessible and attainable for anyone leaning into decentralization,” he added.
Rubix is a Layer 1 blockchain protocol for peer-to-peer data transfer and transactions. With operations in Singapore, India, the United Kingdom, United Arab Emirates and the United States, Rubix is a Web scale protocol with Zero transaction fees, minimal infrastructure costs, high security and privacy.
With less than 1 kWh per transaction, Rubix has one of the lowest energy consumptions among all computing networks. Its software can be freely downloaded on any personal computer or virtual machine. The Rubix community has more than 12,500 validators.
“Rubix is a gamechanger for international transactions. It’s exactly the type of innovative disruptor we look to partner with. What sets the Rubix blockchain apart is its environmentally friendly crypto framework and focus on leveraging the Web3 technology to address some of the biggest issues society faces today. This isn’t just a coin, it’s a true transformation in how online transactions are processed,” said Warren P. Baker III, Managing Partner at LDA Capital.
LDA Capital is a global alternative investment group with expertise in cross border transactions worldwide. Its team has dedicated their careers to international and cross border opportunities having collectively executed over 250 transactions in both the public and private middle markets across 43 countries with aggregate transaction values of over $11 billion.