{"id":32862,"date":"2020-12-04T18:32:12","date_gmt":"2020-12-04T16:32:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32862"},"modified":"2025-08-28T10:50:16","modified_gmt":"2025-08-28T07:50:16","slug":"gbv-acquires-ethereum-sidechain-developer-omg-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gbv-acquires-ethereum-sidechain-developer-omg-network\/","title":{"rendered":"GBV acquires Ethereum-sidechain developer OMG Network"},"content":{"rendered":"<p>The venture capital firm Genesis Block Ventures (GBV) has acquired the OMG Network startup, the developer of the Ethereum scaling solution. <a href=\\\"https:\/\/gbv.capital\/gbv-omg-synqa\/\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">As stated in a statement<\/a> on the firm&#8217;s site.<\/p>\n<p>GBV bought the blockchain project from its parent company SYNQA. The deal amount was not disclosed.<\/p>\n<p>The company plans to work with OMG Network to build lending and trading platforms, with GBV particularly interested in DeFi-related activities.<\/p>\n<p>The new owner pledged a smooth integration of the OMG Network team and all business processes to minimise potential risks to the OMG token.<\/p>\n<p>According to CoinGecko, the token rose 3.4% in the last 24 hours. At the time of writing, OMG was trading at $3.92.<\/p>\n<p><img loading=\\\"lazy\\\" decoding=\\\"async\\\" class=\\\"aligncenter size-large wp-image-118685\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-371-1024x361.png\\\" alt=\\\"\u0412\u0435\u043d\u0447\u0443\u0440\u043d\u0430\u044f \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u044f GBV \u043a\u0443\u043f\u0438\u043b\u0430 \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u0447\u0438\u043a\u0430 \u0441\u0430\u0439\u0434\u0447\u0435\u0439\u043d\u0430 Ethereum\\\" width=\\\"1024\\\" height=\\\"361\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-371-1024x361.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-371-300x106.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-371-768x271.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-371.png 1261w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><\/p>\n<p>GBV is part of the Hong Kong-based Genesis Block, specialising in over-the-counter cryptocurrency trading.<\/p>\n<p>In June, SYNQA raised $80 million in a Series C funding round from Siam Commercial Bank, Thailand&#8217;s largest bank, and Asian venture group SPARX, to develop cashless payments using digital assets.<\/p>\n<p>In June 2020, the OMG Network project launched its Ethereum scaling solution. The Tether (USDT) stablecoin <a href=\"https:\/\/u1f987.com\/en\/news\/tether-integrates-into-ethereum-sidechain-with-thousands-of-tps\">was integrated<\/a> into the sidechain.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The venture capital firm Genesis Block Ventures (GBV) acquired the OMG Network startup behind the Ethereum scaling solution. This is stated in a statement on the firm&#8217;s site.<\/p>\n","protected":false},"author":1,"featured_media":32863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1891],"class_list":["post-32862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-omg-network"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32862"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32862\/revisions"}],"predecessor-version":[{"id":32864,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32862\/revisions\/32864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32863"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}