ETH lab ConsenSys just raised $65 million from JPMorgan and Mastercard that will be used to build products in Defi and Web3 as we can see more in our ethereum news today.

The Ethereum incubator will use the proceeds to build products and the ETH Lab ConsenSys announced the final close of the $65 million round. Global financial services Mastercard, JPMorgan, and UBS invested in multiple companies like Protocol Labs, Fenbushi, Maker Foundation, Alameda Research, and the LAO as well. additional investors include Greater Bay Area Homeland Development Fund, CMT Digital, Quotidion Ventures, Liberty City Ventures, and more.

Consensys acquired, truffle, blockchain

The funds will be used to create Web3 applications and decentralized finance and the various synergies between the two with ConsenSys focused on commercializing the platforms that are leaders in this industry as distribution channels for leading DeFi protocols as founder Josep Lubin stated:

 “When we set out to raise a round, it was important to us to patiently construct a diverse cap table, consistent with our belief that similar to how the web developed, the whole economy would join the revolutionaries on a next-generation protocol.  “ConsenSys’ software stack represents access to a new automated objective trust foundation enabled by decentralized protocols like Ethereum.”

Raj Dhamodhaman who is the executive vice president of digital asset at Mastercard explained why the company is taking part in the round:

“Enterprise Ethereum is a key infrastructure on which we and our partners are building payment and non-payment applications to power the future of Commerce.”

Consensys is an integrated ETH software company that has amazing in-class products that are powering blockchain development and user experience. The product suite supports private and public permissioned blockchain networks and will be supporting the layer 2 Ethereum networks and facilitating access to adjacent protocols such as Filecoin, IPFS and others.

ConsenSys contributes to Ethereum 2.0 and its products are the primary points of access to the ETH developers, consumers, enterprises and making Web3 even more useful and accessible. MetaMAsk on the other hand, is among the most used ConsenSys product with over 3 million monthly active users on both mobile and desktop versions. More than 150,000 developers use Infura’s APIs and about 4.5 million developers crated and deployed smart contracts with Truffle.

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