Lightnet Group has secured $50 million capital from LDA Capital to grow its infrastructure, operations, and expand its technology partner’s (Velo Labs Technology) blockchain technology.
Singapore headquartered Lightnet will have the option to increase the $50 million to total commitment of up to $100 million over the next three years.
Lightnet will use the funds to facilitate web 3.0 payment and blockchain ledger-based remittance services focused across Asia Pacific and globally.
Lightnet aims to boost growth in the payment and remittance space, expanding operating corridors and opportunities, obtaining licenses – enabling a transition of existing payment and remittance systems towards new technology and building the #1 CeDefi banking network in Asia.
“This investment will allow us to grow and expand our infrastructure, which partners can participate in and grow business solutions,” said Tridbodi Arunanondchai, Co-Founder and CEO of Lightnet.