Chain Debrief, a Singapore-based media platform dedicated to cryptocurrency and blockchain investment, announced today (January 4) that it has raised US$900,000 in its seed funding round.
The round is led by angel investor Sim Jian Hong and supported by institutional investors QCP Capital, Gecko Ventures, Double Peak Group and Coinhako. Senior executives from Defiance Capital, Xfers, Mintable and other individual investors in the crypto space also participated in the funding round.
QCP Capital is one of the world’s largest crypto trading companies with over US$1.5 billion in assets deployed. It is also an early investor in companies such as Axie Infinity, FTX, AAVE (ETHLend), YFI, Deribit, Avalanche, DYDX, Algorand, Tokocrypto, Nansen AI and more.
Meanwhile, Coinhako is a Singapore-based cryptocurrency exchange that recently received an in-principle approval from the Monetary Authority of Singapore to provide digital payment token services under the Payment Service Act as a major payment institution.
With the seed funding, Chain Debrief said that it plans to expand its platform and continue building products focused on helping users to understand the crypto space.
Currently, it is looking to launch a new platform called Pulse, which tracks decentralised applications activities through various blockchains.
Founded in early 2021, Chain Debrief is dubbed as a “gateway into the world of cryptocurrency”. It aims to inform, educate and connect the global investment community — beginners or advanced users alike — through its editorial platform, video series and crypto communities.
“As one of the pioneer crypto media organisations founded in Singapore, we aim to challenge the narrative and educate the public masses on crypto investment. The team at Chain Debrief firmly believes that crypto will fundamentally change the way the world works in the near future, and we are at the forefront of this financial revolution,” said Jacky Yap, founder and managing director of Chain Debrief.
“We are honoured to have the support of our strategic investors who believe in our vision. We are excited about this new milestone, and are gearing up to make Chain Debrief synonymous with crypto in the near future.”
Besides Chain Debrief, Jacky is also the co-founder of GRVTY Media, the parent digital media company of Vulcan Post, VP Label, Millennials of Singapore, The Daily Ketchup and The Playbook.
Singapore as a crypto hub
“As crypto adoption accelerates, a regional ecosystem will be required to educate adopters and introduce the thousands of Web 3.0 products and platforms to users. Jacky and his team are proven players in the industry and I’m excited to support them in developing and scaling the products and services on their roadmap,” said Liu Yusho, co-founder of Coinhako.
Today, crypto has become one of the fastest-growing technologies. It is rapidly being adopted into the mainstream, with some of the world’s largest banks, companies, and even governments making moves to incorporate blockchain and Web 3.0 tech.
“What people don’t actually know is that Singapore has become the crypto wealth capital of the world, but few companies in Singapore are actively driving the crypto industry forward. We are excited to support Chain Debrief’s vision in bringing more education to the mass audience,” said Darius Sit, co-founder and managing partner at QCP Capital.
Sim Jian Hong added that Chain Debrief will help play a pivotal role in educating and informing consumers in the “Web 3.0 world”.
Web 3.0 is a new internet breed that aspires to be a decentralised version of the virtual world. It aims for transparency, and users will soon be able to access a limitless amount of resources, content, and agreements in the future.
With blockchain getting into the thick of things, the crypto realm could transform into a more impactful space in a few years from now, and Chain Debrief wants to be at the forefront of this space as it aims to track all the emerging developments as part of this evolution.
Featured Image Credit: Chain Debrief