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ConsenSys Raises $65 Mln Funding From JP Morgan, Mastercard

Blockchain technology company ConsenSys Tuesday said it has raised $65 million in funding from companies like JP Morgan Chase (JPM), Mastercard Inc. (MA) and UBS AG (UBS) and also from firms in the decentralized finance area.

Other contributors to the funding include top blockchain companies like Protocol Labs, the Maker Foundation, Fenbushi, The LAO and Alameda Research. CMT Digital and the Greater Bay Area Homeland Development Fund have also pooled into the funding.

ConsenSys said that many firms have also invested with Ethereum-based stablecoins like DAI and USDC.

ConsenSys said said the investment would help the company to further develop decentralized finance and other applications on the Ethereum network.

Mike Dargan, Head of Group Technology, UBS, said, "This investment underscores our commitment to working with fintechs and the broader tech ecosystem to shape the future of banking for the benefits of our clients."

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