GVE, a Developer of a Central Bank Digital Currency Platform Has Increased Its Valuation to 224 Billion Yen
GVE Ltd. (Headquarters: Tokyo, CEO: Koji Fusa, hereinafter "GVE") on 19th January 2022, resolved at a board of directors meeting to receive funds through a Series D financing. This financing is to provide funds for further development. The funds will be raised by the issue of shares to existing shareholders, including E-SET LLC (Headquarters: Saitama Prefecture, Representative Director: Madoka Kato, hereinafter "E-SET") at pre-money valuation of 224.2 billion yen.
GVE is a DX platform company with global ambitions, founded to develop and operate a digital fiat currency platform, or Central Bank Digital Currency. Two of the founders, Susumu Kusakabe and Koji Fusa have brought their combined experience and knowledge together to design a multi-Central Bank Digital Currency (CBDC) platform. This is likely to reduce the cost of cross border payments by 99%.
GVE has become the focus of interest globally for the high level of security which it offers against potentia cyber attacks from quantum computers and reduces power consumption, through eliminating the more than 100,000 cash transport vehicles in operation worldwide. This has attracted the interest of future-oriented countries, which are seeking to achieve carbon neutrality as quickly as possible.
GVE's platform enables the banks to offer narrow banking within the existing legal framework and offer together with the fractional reserve banking. Furthermore, the superiority of GVE's technology compared to other companies is recognised because it complies with the ISO / IEC 24643 international standard. This ensures the interoperability with existing legacy systems at the same time as maintaining the security integrity of the entire financial system.