With support from the Ethereum Foundation and Vitalik Buterin, Etherealize seeks to establish Ethereum as the leading blockchain for Wall Street.
As the network tries to stay up with more general advancements in the cryptocurrency sector, a new Ethereum-focused business supported by inventor Vitalik Buterin hopes to win over Wall Street.
Vivek Raman, a former bond trader at Nomura and UBS, established Etherealize, which announced its launch in New York on Wednesday night.
“ETH is the conduit for all roads. In a statement published on X, the corporation said, “We’ll demonstrate to the world why.”
An “institutional marketing and product arm” for the Ethereum ecosystem is how the startup defines itself.
Ethereum’s new Wall Street liaison must explain the network’s value proposition to institutional investors who have so far preferred its elder competition, while Bitcoin enjoys the advantages of widespread usage and possible government reserves.
On Wednesday, Bloomberg reported that Buterin and the Ethereum Foundation were named as major investors. Both parties did not reveal the financial amount, even though the foundation acknowledged its stake in Etherealize.
In his interview with Bloomberg, Raman stated that Ethereum can satisfy the need for “safety, security, reliability, and a track record” among financial institutions. The “only blockchain that stood the test of time,” according to Raman, is Ethereum.
FAQ
Etherealize is a new Ethereum-focused startup established by Vivek Raman, a former bond trader. Supported by the Ethereum Foundation and Vitalik Buterin, its mission is to position Ethereum as the leading blockchain for institutional use, especially in the financial sector, by serving as its “institutional marketing and product arm.
Institutional backing can help Ethereum gain broader acceptance among financial institutions, improve its credibility, and establish it as a viable alternative for traditional finance applications. This would bridge the gap between decentralized technologies and Wall Street, enabling Ethereum to compete with Bitcoin, which already enjoys widespread institutional recognition.
Etherealize plans to demonstrate Ethereum’s advantages in safety, security, reliability, and its established track record. By focusing on Ethereum’s potential as a trusted blockchain for financial applications, Etherealize seeks to address the concerns of institutional investors and showcase Ethereum’s capacity to meet their needs.
Etherealize is backed by the Ethereum Foundation and Vitalik Buterin, the co-creator of Ethereum. While the financial details of their investment have not been disclosed, their support highlights the strategic importance of Etherealize’s mission for Ethereum’s ecosystem.
While Bitcoin enjoys advantages like widespread adoption and potential government reserves, Ethereum differentiates itself with its advanced capabilities, such as smart contracts and decentralized applications (dApps). Etherealize aims to emphasize Ethereum’s track record and unique features to attract institutional investors who prioritize innovation and reliability.