EQS-News

Advanced Blockchain AG: Portfolio company peaq raises USD 20 million through public token launch on CoinList

EQS-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Miscellaneous Advanced Blockchain AG: Portfolio company peaq raises USD 20 million through public token launch on CoinList 21.05.2024 / 11:58 CET/CEST The issuer is solely responsible for the content of this announcement. Advanced Blockchain AG: Portfolio company peaq raises USD 20 million through public token launch on CoinList

May 21, 2024 – Advanced Blockchain AG ("AB", Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and investor in the blockchain industry, is pleased to announce that its portfolio company peaq, a leading Layer 1 blockchain for Decentralized Physical Infrastructure Networks (DePIN), has successfully raised USD 20 million in a public token launch on the CoinList platform. The transaction was based on a valuation of USD 333 million and was one of the most successful launches on the platform in over two years, with 14,500 investors and around USD 36 million in total contributions, according to CoinList.

peaq uses blockchain technology to develop decentralized applications (dApps) and real infrastructure projects. Innovative projects in the peaq ecosystem include charge.xyz, an app that will allow users to register their chargers and electric vehicles with peaq IDs, and farmsent.io, a platform for the agricultural industry. These projects illustrate how peaq is transforming the physical world through digital mapping using blockchain technology and tokens.

DePIN is currently regarded as one of the most significant trends in the blockchain sector. According to the analysis portal Messari, the value of the DePIN sector could rise to USD 3.5 trillion by 2028. More than 25 applications in eight different sectors are already running on the peaq blockchain. Over 400,000 devices, vehicles, machines and robots (Machine RWAs) are already integrated and actively using the platform. peaq is therefore the fastest growing DePIN ecosystem worldwide.