Taiwan’s Nogle Invest $3M in Crypto Firm First Digital Trust

Taiwan’s Nogle Investing $3M in Crypto Firm First Digital Trust

Nogle, a technology company located in Taiwan, has announced yesterday investing $3 million in Hong Kong-based First Digital Trust (FDT); Legacy Trust’s digital asset arm.

Therefore, the deal aims to develop FDT’s crypto-asset network in the Asian market.

The Rapid Settlement and Clearing Network related to the financial custodian will be launched in May. It could give the Silvergate Exchange Network an alternative solution for Asian markets.

Thus, the initial offerings will be limited to the existing fiat currency and crypto-assets. Nevertheless, FDT indicated that the offering may include tokenized shares.

Nogle investing in topnotch FinTech

With the company now supporting the crypto-custodian to build its trading platform, FDT has become Nogle’s latest financial target.

Before this new venture, Nogle had invested in other global technology companies. For example, it had put $2.5 million in the global messenger app Telegram.

Meanwhile, the custodian has provided financial assistance to the crypto-monetary exchange company BTSE and FinTech TNG.

Working for the digital asset market

FDT said it is partnering with Nogle to expand its Rapid Settlement and Clearing Network in other areas, connecting the digital asset market with legacy financial services.

For his part, FDT’s Chief Operating Officer Gunnar Jaerv said the deal will help his company become an industry leader in the crypto-custody:

“The unique synergies between our two companies will accelerate our vision of creating a world where people can trade and transact digitized assets freely.”

Earlier, Cryptolydian reported that international institutions have radically changed their positions towards cryptocurrencies, whether supporting or rejecting the industry. Even, some experts viewed cryptocurrencies as a ‘safe haven’, which is considered a radical change in itself.

A study conducted by a group of experts two years ago about the world’s position towards cryptocurrencies advised investors to be cautious about cryptocurrencies, especially Bitcoin that involves risks, instability and extreme fluctuation in prices.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.