Acumen Network Receives Strategic Investment From Avalanche Blizzard Eco-Fund

Key Points:

• Acumen Network announced that it had received a strategic investment from the Avalanche Blizzard eco-fund.
• The project plans to expand globally and deploy on multiple EVM Compatible networks, including NEAR and FUEL.

In its latest announcement, Acumen Network announced the receipt of a strategic investment from the Avalanche Blizzard eco-fund.

“We are pleased to announce that Acumen Network has received a strategic investment from the team at Blizzard, The Avalanche Ecosystem Fund. With our unique methods of bringing the world of DeFi and traditional finance together, as well as our dedicated team, we are confident in our ability to deliver cheaper access to capital for SMEs in emerging economies.”

The investment will go towards the development of a global expansion plan as well as deployment across multiple EVM Compatible networks, including NEAR and FUEL.

Previously Acumen has rolled out loans worth more than $250k to small and medium businesses in El Salvador. Through a pilot launch, they are ready to open deposit pools of up to $20 million, starting on the Avalanche platform.

In June 2022, El Salvador partnered with Acumen to provide SMEs with $10 million worth of crypto loans at 6-7% interest or maybe 10% one year.

The Acumen Microfinance Responsive Dapp Project Built on Solana connects crypto and traditional finance, allowing DeFi users to earn attractive, stable, and uncorrelated returns while creating environment equality where Small and Medium Enterprises (SMEs) and entrepreneurs can prosper. The project allows depositors of all sizes to participate in the microfinance economy.

After the FTX crisis, the project claimed to be unaffected by the FTX crash but took a snapshot of all $ACM token holders on Solana. All holders of this unlocked $ACM token will receive a new token on the EVM chain when it becomes available. All fairlaunch locked token holders will also be treated the same as before.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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