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New Zealand’s State-Backed Innovation Institute Awarded For Its Native Digital Wallet And Trading Services.

In line with a recent announcement published, Callaghan Innovation issued an “R&D Project Grant” to native digital wallet and trading platform Vimba, a rebranded version of former MyCryptoSaver. Following the grant, the crypto startup is reportedly set to expand its offerings, along with to list additional cryptocurrencies and alter multi-signature crypto wallets.

R&D Project Grants are a sort of co-funding for a research and development project. A Callaghan Innovation interpreter told that the grants fund up to 40 % of a project, and that 355 such grants were approved throughout the last fiscal month.

Founded earlier in the year 2014 as MyBitcoinSaver, Auckland-based Vimba platform offers New Zealand residents with restricted weekly investments in major cryptocurrencies including Bitcoin [BTC] and Ethereum [ETH]. Since its launch, Vimba has underwent 2 investment rounds, and can reportedly launch services within the U.K. within the upcoming few weeks.

The chief executive office ‘Sam Blackmore’ of Vimba commented that firm’s consumer base has “remained quite stable” despite the pessimistic market this year. Blackmore additionally expressed company’s belief that Bitcoin [BTCcan “at least reach the market cap of gold,” because of being a “more economicaladditionally accessible, more safer version of that rare asset.”

The neighbouring state of Australia has additionally awarded govt. grants to crypto and blockchain startups. In August, the govt. of the state of Queensland issued a grant to a crypto travel startup referred to as TravebyBit as a part of over $8.3 Mln in innovation funding. The corporate is expected supposedly to boost tourism to the state by selling travel offers with cryptocurrencies.

Even earlier in July, the Queensland Cane Growers Organization received a $1.7 Mln government grant to implement blockchain technology for following the provenance of sugar supplies.

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