Borderless to Launch $25M Miami Blockchain Fund With Algorand, Circle

Miami was chosen because of its blockchain and crypto-friendly outlook.

Jun 2, 2021 at 1:01 p.m. UTC
Updated Sep 14, 2021 at 1:04 p.m. UTC

Borderless Capital is to launch a $25 million fund for blockchain investment in Miami harnessing Algorand and the technology of stablecoin USDC operator Circle.

  • Borderless.Miami will help local companies build platforms for payments and capital markets leveraging Alogrand technology, according to an emailed announcement Wednesday.
  • Features of USDC and Circle Business Services built on the Alogrand blockchain will also be part of the venture.
  • Miami was chosen because of its blockchain-friendly outlook, driven in a large part by pro-bitcoin Mayor Francis Suarez.
  • "With the support of Algorand, Circle and other top local partners, we’re building an ecosystem in line with our vision for Miami," Suarez said. "I am so excited to work with Borderless.Miami to make Miami the epicenter for digital capital markets in our pursuit of becoming the ‘Capital of Capital’."
  • Suarez has previously stated his intention to turn Miami into a bitcoin mining hub, harnessing the city's nuclear power capability to increase the U.S.'s global share of the mining industry. He also attempted to introduce bitcoin as a means for residents to pay public services and as a salary option for city employees, but was halted by Miami's commissioners, pending further discussion.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown
2
CoinDesk - Unknown
Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

CoinDesk - Unknown
3
CoinDesk - Unknown
Market Wrap: Cryptos Decline Amid Choppy Trading, DeFi Tokens Underperform

Aversion to risk remains as volatility returns to stocks and cryptos.

Aversion to risk remains as volatility returns to stocks and cryptos.

CoinDesk - Unknown
4
CoinDesk - Unknown
Travis Kling on Why a Decentralized Web 3 Is Worth Fighting For

Plus more about Ikigai's new Web 3 venture fund.

Plus more about Ikigai's new Web 3 venture fund.

CoinDesk - Unknown