PRESS ROOM

2019.01.21

PRESS

Crypto Garage Launches SETTLENET Product to Boost Application Development for Blockchain Based Financial Institutions

~Aims to Support the Participants of Liquid Network, the Sidechain Network~

Crypto Garage, Inc. (HQ: Tokyo; Representative Director: Masahito Okuma; Crypto Garage), a Fintech company developing blockchain financial services and also a subsidiary of Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG), reveals "SETTLENET" (https://settlenet.io/), a suite of products to enhance application development on the "Liquid Network", a Bitcoin sidechain launched by Blockstream Corporation (HQ: Victoria Canada; CEO: Adam Back; Blockstream), a company developing blockchain technology.

SETTLENET will provide Liquid Network members, including cryptocurrency exchanges, with functionality required for issuance, trading, and transaction monitoring of digital assets. By developing SETTLENET, Crypto Garage aims to augment Blockstream's products and services to further support Liquid members by improving the efficiency of their trading and businesses.

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Crypto Garage develops SETTLENET under a technology partnership with Blockstream. Crypto Garage further plans to add new functions to SETTLENET in concert with the product specification and roadmap of the Liquid Network. As a first product of SETTLENET, Crypto Garage plans to release "SETTLENET Issuing Assets" in the spring of 2019, which supports the members to issue digital assets and/or tokens on the Liquid Network.

Furthermore, in December 2018, Digital Garage made an additional investment of 10 million USD to Blockstream to further foster and strengthen the partnership with Blockstream. Blockstream has also made an equity investment in Crypto Garage. Under the partnership with Blockstream, Crypto Garage will accelerate its R&D efforts to bring advanced financial services utilizing blockchain and cryptography to the market.

【About Liquid Network】 https://blockstream.com/liquid/
The Liquid Network is an inter-exchange settlement network connecting cryptocurrency exchanges, market makers, brokers, and other financial institutions around the world. Liquid enables rapid, confidential, secure transfers of bitcoin between members of the network. The network is operated and managed by its federated members, ensuring the system has no single point of failure.

【About Crypto Garage】 https://cryptogarage.co.jp/en/
Crypto Garage is a Fintech joint venture of Digital Garage and The Tokyo Tanshi Co., Ltd. (HQ: Tokyo; President: Shoji Ushiro), engages in R&D and commercialization of blockchain financial services.

Crypto Garage is currently looking for partners to beta test a version of SETTLENET. If you are interested in the trial, please inquire with us via the contact information below.

【Contact Information】 info@cryptogarage.co.jp

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