A joint venture W3BCLOUD between Advanced Micro Devices (AMD) and a blockchain-focused firm ConsenSys has announced it has completed its initial close of $20.5 million in convertible notes from AMD, ConsenSys and several family offices in the United Arab Emirates.
As official press release states, W3BCLOUD will be focused on expansion of Ethereum blockchain data centers around the world as more funding is raised.
W3BCLOUD CEO & Co-Founder Sami Issa says the trustless, permissionless and decentralized economy requires robust and dedicated data centers to scale.
"W3BCLOUD brings together the pre-eminent GPU manufacturer and the leading blockchain developer to build the compute infrastructure for the blockchain economy," Issa added.
Ethereum Co-Creator and ConsenSys Founder Joseph Lubin believes that the joint venture will build "the next generation decentralized compute, storage and bandwidth for the planet."
Earlier, ConsenSys announced that Codefi, the blockchain operating system for commerce and finance, was launching an Ethereum 2.0 staking-as-a-service.
According to an official announcement, backed by Binance, Crypto.com, DARMA Capital, Huobi Wallet, Matrixport, and Trustology, the Codefi Staking platform will be focused on providing a white-label institutional grade API, with easy and efficient access to the Ethereum 2.0 network.
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