Medici Ventures, the blockchain investment arm of American Internet retailer Overstock, has acquired a 5.1% stake in Shanghai-based crypto banking venture Bankorus.
Bankorus was founded in 2017 and has offices in Europe and China. The company’s blockchain banking platform allows individuals and institutions to securely buy, sell, store, and lend digital assets through its security token marketplace.
Bankorus joins 20 other companies at the forefront of the blockchain revolution in the Medici portfolio.
“The addition of Bankorus to Medici Ventures’ portfolio of companies will further our work in building the foundation of a blockchain-based technology stack for society,” says Jonathan Johnson, president of Medici Ventures. “Bankorus has built a revolutionary blockchain banking platform that dovetails nicely with Medici Ventures’ goals of eliminating middlemen, democratizing capital, and rehumanicing commerce by helping individuals access and control their own digital assets.”