Genesis Block Ventures has today announced an investment into the tokenised fiat blockchain project Public Mint. GBV Capital, a leading Venture Capital firm, will help to expand Public Mint’s services in CeFi and DeFi, and particularly for its forthcoming ‘Earn’ program.
Public Mint will provide a bridge linking fiat to crypto. Synthetic fiat tokens can be built on the platform, that will be both fully collateralised and FDIC insured with funds deposited to third party financial institutions.
It is a platform that anyone can use to build their own fiat payment applications, which could accept credit cards, ACH and wire transfers among other services, without the need for the involvement of a bank account.
The Public Mint IDO will officially launch tomorrow on the Polkastarter platform. A total of $250,000 is hoped to be raised. 2.5 million MINT tokens will be sold in all, at a price of $0.1 per MINT. The initial market cap is expected to be $1.6 million.
The investment in Public Mint is yet another to be made by Genesis Block Ventures, as it adds the much-anticipated DeFi project to its already swelling list of leading blockchain ventures such as Serum, Exeedme, and Cream Finance, as well as the eagerly awaited Superfarm, which is launching today.
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