Vancouver, British Columbia, Sept. 04, 2024 (GLOBE NEWSWIRE) — Spirit Blockchain Capital (CSE: SPIR) has announced today their expanded involvement with the Alvara Protocol, continuing their collaboration focused on pioneering blockchain innovations like the ERC-7621 Token Standard. This development marks a significant step forward in advancing blockchain-based fund management for institutional clients.
Initially formed to develop the ERC-7621 Token Standard—a framework for on-chain, multi-asset tokenized baskets—this collaboration now evolves with Spirit Blockchain Capital providing strategic support to further enhance the Alvara Protocol’s capabilities. The ERC-7621 Token Standard facilitates the creation and management of Basket Tokens, which hold various underlying ERC-20 tokens, similar to traditional Exchange-Traded Funds (ETFs) but with enhanced liquidity and arbitrage opportunities.
“Our expanded role in the Alvara Protocol underscores our commitment to innovation and excellence in the blockchain sector,” said Lewis Bateman, CEO of Spirit Blockchain Capital. “This collaboration allows us to apply our pioneering spirit and technical expertise to revolutionize how institutional investments are managed through blockchain technology.”
Alvara’s co-founder, Dominic Ryder, remarked, “This collaboration with Spirit Blockchain Capital marks a significant milestone for our project. Their forward-thinking approach and deep expertise in blockchain technology align perfectly with our goal of transforming the future of fund management. Together, we are redefining industry standards and exploring new possibilities in the realm of blockchain-driven financial solutions.”
This continued partnership is set to deliver substantial benefits to institutional clients, providing them with access to cutting-edge, secure, and transparent platforms for managing investment portfolios.
About Alvara Protocol
The Alvara Protocol revolutionizes decentralized finance (DeFi) by offering a platform for easily creating personal investment funds, democratizing the role of fund manager, and lowering entry barriers in financial management. Enabled by the innovative ERC-7621 token standard, it introduces Basket Tokens (BTS) for on-chain multi-asset aggregation, simplifying the management and investment in diverse portfolios through a unified platform.
About Spirit Blockchain Capital
Spirit Blockchain Capital is a leading investment company at the forefront of the blockchain industry. Through our operational business line and asset management business, we provide investors with a range of opportunities for capital appreciation. With a strong focus on innovation, strategic investments, and operational excellence, Spirit Blockchain is poised to unlock the potential of the digital economy.
For media inquiries, please contact:
Lewis Bateman
Chief Executive Officer
[email protected]
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors that could materially affect such forward-looking information are described under the heading “Risk Factors” in the Company’s long form prospectus dated August 8, 2022, that is available on the Company’s profile on SEDAR at www.sedar.com. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements’ best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
The CSE has not reviewed, approved or disapproved the content of this press release.
Bay Street News
