Blockchain

Qredo Transforms into Fusionchain, New Era of Self Custody

Published

12 months ago

February 2, 2024

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Qredo is transitioning to Fusionchain due to its acquisition by Dan Tapiero’s firms, 10T and 1RoundTable Partners. This move is a defining moment for the company and its users, as it comes with improved functionality and centering on self-custody in blockchain technology.

Qredo’s Acquisition and Relaunch

The investment made by Tapiero’s investment entities through Fusion Laboratories, a newly established U.K.-based venture, has absorbed large amounts of assets from Qredo. This progression comes after a phase of financial struggles for Qredo, which led to some business divisions being placed under administration.

The Fusionchain will come into being from this transition, highlighting an upgraded version of the Qredo Network that is now part of the Cosmos ecosystem.

Focus on Fusionchain and Cosmos Integration

By implementing Cosmos as a framework, Fusionchain is designed to revolutionize blockchain technology, moving conventional ledger applications forward in scalability and interoperability.

The integration points to a shift in strategic approach towards a more solid and multi-purpose platform. As a result, users can benefit from the increased utility of tokens and join a network of blockchain applications. There is excitement among the stakeholders as the announcement paves the way for more details on the launch and strategic direction to be released in due course.

Moreover, the QRDO token has migrated to the Cosmos network, which can lead to increased utility and integration of this token in a wider blockchain environment. This migration represents a technical change and reorientation that seeks to enhance the valuation of the token, providing holders with better functionality and increased involvement in a more interdependent blockchain.

Continuity and Transition

However, despite the organizational restructuring, Qredo guarantees users uninterrupted service. The custodial platform continues to operate, preserving customer assets and prioritizing the integrity of ongoing transactions. This commitment to service continuity shows the company’s devotion to its users, even during transformational changes.

Consequently, the transformation has unavoidably resulted in workforce reorganization, affecting Qredo and the transfer of selected employees to Fusion Laboratories. This action is consistent with the global strategy of business orientation towards Fusionchain and the general goals of the investment firms belonging to Tapiero.

The new team at Fusion Labs is ready to provide a direction for developing and accepting Fusionchain, opening a new era in the QRDO community.

As a result of the guidance of Randy Little, the newly appointed CEO of Fusion Labs, and a new leadership-driven board with Tapiero as chairman, the leadership is determined to see the direction in which Fusion Labs will move towards realizing its vision. The strategic focus on Fusionchain and its integration with the Cosmos ecosystem highlights the commitment to innovation and user empowerment in digital asset custodial services.