Colu Launches Beta Version of Digital Asset Platform

Israel-based colored coins startup Colu has launched the beta version of its developer platform.

Based on bitcoin's blockchain technology, the platform will enable developers and individuals to register and exchange digital assets. Additionally, Colu announced its integration with Revelator, a music business management platform.

Amos Meiri, Colu CEO and co-founder, said in a statement:

"The Colu team has been working closely with various companies to finally leverage blockchain technology in a consumer-friendly way. We're excited to launch this beta more broadly so solutions and services can be used by consumers down the road, starting with an industry as dynamic as music and entertainment. Colu is committed to making blockchain technology easily and safely accessible for everyone."

Colu's announcement follows its closure of a $2.5m seed funding round in January this year. The round, led by VC firms Aleph and Spark Capital, also included contributions form VC Barry Silbert's Bitcoin Opportunity Corp and boutique angel fund Box Group.

Since the procurement of funding, Mark Smargon, co-founder and VP product, told CoinDesk that the startup had also released its new Colored Coins specification – an open source protocol for issuing digital assets and enabling interoperability between them on the blockchain.