FUSE LABS is an innovative payment company – today most cryptocurrencies are used over 90% for payment purposes and the many projects in the blockchain network are not rising and changing world orders
Digital assets company Tectona today announces a new deal with the signing of a memorandum of understanding for a substantial investment in Fuse Labs, which is developing an innovative blockchain-based payment network platform. At the same time, Tectona will appoint a representative on its behalf to the board of directors of Fuse and will assist it in business and marketing.
Fuse Labs from Tel Aviv has been building a network of payments based on smart contracts for the past two and a half years, designed to reduce costs and remove barriers to entry by an innovative business model. The network is an open service without borders, accessible to any user and operated by partners from all over the world, who maintain and build the network. The network does not sell code or private information, but charges a low fee for Peer to Peer (P2P) transmission which is paid at Token Fuse. The network’s goal is to make the world of blockchain payments accessible to regular and business users, while creating an alternative to cash and credit and clearing companies.
Chairman of Tectona, Yariv Gilat: “We are pleased with the merger with Fuse. In recent months, we have examined a number of significant investment proposals in first-tier L1 projects, and finally Fuse was selected. We estimate that over the next year the value of Fuse-type infrastructure companies will increase significantly “Ye, and want to take an active part in the field. The excellent people at Fuse, along with the added values that Tectona has to offer, make the deal especially attractive for us.”
As part of the deal, Tectona will provide Fuse with an interest-free loan of $ 5 million, which will be converted into a future round of Fuse raising at a discount of 30% or at a company value of $ 100 million after the money (as low).
In addition, Tectona will receive up to 25 million tokens (Fuse’s digital currency), which are currently traded at a price of about 50 cents per coin, and an option to purchase an additional 7.5 million tokens at a price of $ 4 per token, Until Two years from the date of signing the agreement. 12.5 million tokens (which will be released linearly monthly over 3 years) will be transferred to Tectona for the conversion loan grant, and up to an additional 12.5 million tokens in exchange for fuse consulting and business development services.