KR1 plc - Investment: Interlay
PR Newswire
London, July 30
30 July 2021
KR1 PLC
("KR1" or the "Company")
Investment: Interlay
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$269,892 into Interlay Ltd. ("Interlay"), in return for 1,224 Series Seed Shares in Interlay. KR1 invested alongside respected investors such as IOSG Ventures, who led the round, and others including Hypersphere, Zee Prime Ventures and CMS Holdings.
Interlay is currently building out its flagship product 'interBTC', a fully collateralized one-to-one Bitcoin-backed asset that enables interoperability between multiple blockchain ecosystems while fully preserving Bitcoin's censorship-resistant nature. At its core, interBTC leverages the concept of trustless and efficient cross-chain exchanges using cryptocurrency-backed assets introduced in previous research published by the Interlay team. interBTC will launch as a parachain on Polkadot and, once launched, can be utilised on Ethereum, Cosmos, Kusama and other networks in a seamless way through Polkadot's interoperability technology.
Alexei Zamyatin, CEO and Co-Founder of Interlay, commented:
"We are extremely pleased to have the support of top investors from various ecosystems and geographic locations, who believe in our mission to bring Bitcoin to all major blockchains such as Polkadot, Ethereum and Cosmos. Together, we will accelerate the development and adoption of interBTC and allow people to invest, earn and pay with BTC on any blockchain in a truly trustless and decentralised way."
Keld van Schreven, Managing Director and Co-Founder of KR1, commented:
"Bitcoin continues to be the highest valued asset in the digital asset ecosystem by a wide margin but, compared to other base-layer blockchains, it is lacking on-chain opportunities to engage in, such as decentralised finance. interBTC is going to unlock a new wave of innovation for Bitcoin holders across multiple blockchains and serves as a prime example of decentralisation working to provide services that anyone can use without worrying about trust."
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
| KR1 PLC George McDonaugh Keld van Schreven Simon Nicol | +44 (0)16 2467 6716 simon@KR1.io |
| Peterhouse Capital Limited Mark Anwyl | (AQSE Corporate Adviser) +44 (0)20 7469 0930 |
| Nominis Advisory Ltd Angus Campbell | (PR Adviser) pr@KR1.io |
About KR1 plc
KR1 is a leading digital asset investment company supporting early-stage decentralised and open source blockchain and DeFi projects. Founded in 2016 and publicly traded in London on the Apex segment of the AQSE Growth Market (KR1: AQSE), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.
www.KR1.io
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
