Callaghan Innovation Provides $330,000 To Vimba
Callaghan Innovation, a New Zealand government organization, provided a grant of $330,000 to a local startup Vimba, which is a trading platform and cryptocurrency wallet, as follows from a press release.
The grant is provided under R&D Project Grants, a program for development and research. Vimba should direct the received funds to expand its business, which includes adding another cryptos to the listing and creating multi-signature wallets.
In the last financial year, the innovation institute provided grant support to 355 such projects, a spokesperson of Callaghan Innovation stated.
Startup Vimba was founded in 2014 in Auckland and was previously called MyCryptoSaver. Since the beginning of its work, the company has undergone two financing rounds, and now offers residents of New Zealand the opportunity to invest in bitcoin and ether.
Despite the fall of the crypto market in 2018, the client base of the platform “remained very stable,” according to Sam Blackmore, executive director of Vimba. He expressed the hope that bitcoin can "reach the market cap of gold" since the first cryptocurrency is "efficient, accessible, and secure".
As previously reported, the Queensland Administration in Australia allocated a grant to the TravelbyBit startup, which created a platform for commercial enterprises that accept payments in bitcoin and other cryptocurrencies.