GlobeNewswire

LONDON, Oct. 31, 2024 (GLOBE NEWSWIRE) -- VSG, a leading blockchain ecosystem, has entered a strategic alliance with GEM Digital Limited, securing up to $10 million USD through a token subscription agreement. This partnership is set to accelerate VSG’s mission of delivering cost-effective, decentralised, and scalable solutions across its blockchain platform, solidifying its position in the growing decentralised economy.

GEM Digital’s extensive investment portfolio and expertise in utility tokens make it a key partner for VSG. With investments across over 30 centralised and decentralised exchanges globally, GEM Digital offers not only financial backing but a vast network and industry insights. The collaboration enhances VSG’s ability to innovate within the blockchain space. For GEM Digital, this investment underlines its commitment to advancing blockchain technology, aligning with VSG's ambitions to expand applications in enterprise solutions, gaming, NFTs, and decentralised finance (DeFi).

VSG is known for its focus on security, scalability, and decentralised applications (dApps). The commitment from GEM Digital will allow VSG to develop its ecosystem further by attracting developers, growing its user base, and scaling operations to meet market demand. Part of the funds will support VSG’s upcoming hackathon, an initiative to foster innovation by encouraging developers to create new dApps, enhancing engagement and functionality. As VSG broadens its application range, it seeks to make blockchain more accessible and versatile, meeting the needs of individuals and enterprises alike with real-world solutions.

Yan Whitaker, VSG co-founder, stated, “We’re thrilled to partner with GEM Digital at this pivotal stage in our journey. With their support, we’re confident in accelerating the development of our blockchain ecosystem and redefining what’s possible in decentralised applications.” Jason Ansell, co-founder of VSG, described the partnership as a milestone, helping VSG drive innovation, expand platform capabilities, and deliver practical blockchain solutions for business and DeFi sectors.

About GEM Digital Limited

Based in the Bahamas, GEM Digital Limited is an asset investment firm focused on utility tokens. Its parent company, Global Emerging Markets (“GEM”), is a $3.4 billion alternative investment group with offices in Paris, New York, and the Bahamas, spanning asset classes like Small-Mid Cap Buyouts, Private Investments in Public Equities (PIPEs), and select venture investments.

About VSG

Vector Smart Chain (VSC) underpins VSG, aiming to transform decentralised finance through a secure, scalable platform for businesses and individuals.

Media Contact:

Fruzsina Lederer
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60739ca6-0ca5-4582-b269-b3c87f8dacbd