Crypto Connectivity Startup GIANT Raises $5M From CoinFund

CoinFund, Gumi and others are backing GIANT’s plans to tokenize cellular bandwidth.

AccessTimeIconDec 16, 2021 at 3:00 p.m. UTC
Updated Dec 16, 2021 at 4:17 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

GIANT Protocol has raised $5 million on its plans to shake up the telecom industry by tokenizing bandwidth.

CoinFund led the seed round. Gumi Cryptos, which backed sister project Wificoin, also participated, as did crypto venture capital firms Blockchange, Entheos, Argonautic and Bronco Fund, a press release said.

“GIANT has uniquely pledged to convert bandwidth into a digital asset that can be used as a currency,” said Jake Brukhman of CoinFund.

The startup plans to work directly with telecom companies to set up its systems across existing infrastructure. This contrasts with other crypto connectivity projects such as Helium, which bootstraps its own network through a series of user-owned nodes.

The “Global Internet Access Network Token” (GIANT for short) added a new chief operating officer in Merijn Terheggen, founder of cybersecurity company HackerOne. Terheggen is also one of GIANT’s founders alongside Suruchi Gupta.

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Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

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