LumiShare, a blockchain-based digital asset management ecosystem, raises $2.2 million led by Sheikh Mohamed Bin Ahmed Bin Hamdan Al Nahyan from the Abu Dhabi royal family.
The money raised will be used to buy gold reserves that will be stored in a bank vault room at a bank in Abu-Dhabi.
“The FTX crash showed us that failing projects and a lack of transparency and honesty in the crypto ecosystem really broke the trust investors had in even the most successful companies. We must go back to crypto’s original goal, to create a transparent economy, while offering investors the security they need,” Ben Sharon, Co-Founder and CEO of LumiShare, said.
LumiShare’s $SRG token is not a stablecoin as it is backed by three uncorrelated assets: gold, a cash recovery fund, and technology.
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