About
AllianceBlock is a blockchain-agnostic protocol that aims to offer financial institutions and individual clients the ability to trade cryptocurrencies legally. The platform seeks to bridge traditional finance and decentralized finance ecosystems to automate the conversion of digital tokens into bankable products.
History
AllianceBlock was formed in August 2018 by Rachid Ajaja, Amber Ghaddar and Matthijs De Vries. The venture began with a vision to democratize access to capital market investments and offer traditional finance institutions an avenue to digitize their products while remaining compliant across all relevant jurisdictions. By connecting the traditional and decentralized finance ecosystems, AllianceBlock aims to become a globally compliant decentralized capital market.
Between July and December 2019, AllianceBlock joined three accelerator and innovation hub programs - the Level39 accelerator program, the Kickstart Innovation class of 2019, and the Station F incubator. These hubs provided an access point for the team to meet an ecosystem of entreprenuers, talent and investors, eventually leading to 14 partnerships over a two-year period, as well as membership at the London Stock Exchange Group (LSEG) partner program. The LSEG membership, which was acquired in January 2021, allows institutional members of the LSEG directly access the digital products and services offered by the protocol.
A private token sale was held on the 17th of August 2020, effectively raising US$500 thousand dollars for the protocol. This private sale occurred exactly twelve months after a seed round of US$1 million was raised. Two weeks after the private sale event, the team launched its token through a Token Generation Event with a total supply of 1 billion ALBT tokens.
In advancing its mission of being blockchain-agnostic and optimized for interoperability, the protocol launched AllianceBridge in July 2021. The bridge launched with initial support for Ethereum, Binance Smart Chain, Avalanche, and Polygon and has plans in place to extend to both EVM-compatible and non-EVM networks.
