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CMB International and Nervos Foundation Jointly Launch $50M Blockchain Ecosystem Fund
As the first joint investment vehicle between a prominent financial institution and a layer 1 blockchain, the InNervation fund will invest in decentralized applications
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SHENZHEN, China, May 18, 2021 /PRNewswire/ Nervos, China s leading blockchain, today announced the launch of a $50 million fund with CMB International (CMBI), a wholly-owned subsidiary of China Merchants Bank. The new fund, dubbed InNervation, will make early and growth-stage investments in startups building user-facing products based on blockchain technology. InNervation s investment focus will include decentralized applications (dApps), decentralized finance (DeFi) protocols, distributed ledger platforms, non-fungible token (NFT) marketplaces, and more.
China Merchants Bank wholly-owned subsidiary CMB International has launched a joint investment fund with Nervos. The multi-million dollar fund will focus
China Merchants Bank and Nervos Foundation Come Together to Launch $50M Blockchain Ecosystem Fund
10 hours ago by Bhushan Akolkar · 3 min read
Photo: Depositphotos
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The investments from the $50 million fund will be allocated during a three-year period. Startups building on Nervos will receive an initial investment of between $200,000 and $2,000,000.
On Tuesday, May 18, CMB International (CMBI), a wholly-owned subsidiary of China Merchants Bank, has joined hands with China’s leading blockchain solutions provider Nervos Blockchain. Together they announced the launch of a $50million blockchain fund dubbed InNervation.
The new fund aims to help early-age startups building blockchain-based user-centric products. InNervation’s investment focus will involve DeFi protocols, decentralized apps (DApps), DLTs, non-fungible tokens (NFTs) and much more. Basically, the fund aims to target projects that are building on the Nervos plat
Insurers in Washington must cover transgender health care under new bill
The state’s push to protect access to health care for transgender people contrasts with recent actions in other state legislatures. By Melissa Santos, Crosscut
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2 Photos Venus Aoki, 24, has been trying to get access to gender-affirming surgery since she came to Washington five years ago, but her insurance company has refused to cover the doctor-prescribed treatments. A new bill recently passed in the Washington State Legislature will require insurance companies to cover these gender-affirming health care procedures. The bill awaits Gov. Jay Inslee’s signature. (Dorothy Edwards/Crosscut)