Quick take:
- Digital asset market maker and multi-stage Web3 investment firm, DWF Labs led the round.
- The fund will focus on developing wealth-generation infrastructure, the company said at Token49 in Dubai.
- Zignaly offers a social trading platform for digital assets, allowing traders to copy trades from professionals.
Zignaly has launched ZIGChain, a layer-1 blockchain built on the Cosmos network. The company also announced a $100 million ecosystem development fund, backed by the digital asset market maker and multi-stage Web3 investment firm DWF Labs and UDHC.
The announcement also comes on the heels of Ziganaly securing a crypto license in South Africa for discretionary financial service provision.
Commenting on the launch of the ecosystem fund at Token49 in Dubai, the team behind Zignaly said the fund will focus on developing an easy-to-use wealth-generation infrastructure.
The company is expanding its ecosystem of digital asset investing, which currently includes a social trading platform that allows traders to copy professional traders.
Commenting on the announcement, DWF Labs Managing Partner Andrei Grachev said in a statement: “ZIGChain will allow builders to concentrate on doing what they do best: building, with wealth managers forming a layer of power users and then acting as a conduit between the protocol and its user base. This rare confluence of developers, wealth managers, and users has never been attempted at this scale and in a decentralized manner.”
Zignaly is on a mission to make crypto investing for all users as easy as pressing a button. Social investing, sometimes copy-trading, allows novice investors to profit from copying the trades of professional investors.
Zignaly said it wants to create a world where everyone regardless of digital asset knowledge can engage in decentralised finance.
Torben Jorgenson, a partner at UDHC, which also participated in the round added: “The wealth-management layer within ZIGChain shall allow a truly effortless user experience by building a wealth management service on top of any DeFi protocol, no matter how complex it is.”
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