In their latest acquisition, Medici Ventures has acquired a 5.1 percent stake in blockchain banking platform, Bankorous, as announced in a March 11, 2019 press release.
Overstock’s Medici ventures have made yet another move to acquire equity, following their $2.5 million equity acquisition in GrainChain, a blockchain-based payment solution for farms back in December 2018. A March 11, 2019 press release has announced that Medici has acquired a 5.1 percent stake in Bankorus.
Bankorus, according to the press release, was founded in 2017 and works to enable both individuals and institutions to buy, sell, store, and lend digital assets. They currently maintain offices in both Europe and China.
It was also stated that the addition of Bankorus will be helpful in building a foundation of a blockchain-based technology stack for society.
It is rather interesting to watch how Medici has diversified its stock of companies that it is involved with. Besides their investment in GrainChain, they also signed a memorandum of understanding with the Mexican government in February 2019 to make use of their technology for the purpose of land registration.
They almost seem to be following in the footsteps of IBM who possess a record number of blockchain-related patents for a multitude of possible applications across various sectors.
In the case of Bankorus, they are exploring the offering of digital assets to not only individuals but institutions as well, in a way that is accessible and secure. This was also stated by Jonathan Johnson, president of Medici Ventures.
“Bankorus has built a revolutionary blockchain banking platform that dovetails nicely with Medici Ventures’ goals of eliminating middlemen, democratizing capital, and rehumanizing commerce by helping individuals access and control their own digital assets,”
This is a significant move because digital assets will need a certain level of accessibility if they are to gain wider adoption, considering they are going up against traditional assets that are already established in the minds of both everyday individuals and large firms alike.
By making digital assets easy to invest in and providing a platform that offers birth guidance and security, the attention and investment of their target market can be reached.
It will also be exciting to see what venture Medici decides to involve itself in next.