Moonstake Enters Into MOU to Commence Negotiations with SGX-listed OIO Holdings to Become a Subsidiary

Jan 21, 2021 17:00 JST

Source: OIO Holdings Ltd

SINGAPORE, Jan 21, 2021 - (ACN Newswire) - As of 20th of Jan, Moonstake announced that it signed an MOU with OIO Holdings Limited (OIO), a Singapore Stock Exchange (SGX) listed company, to begin negotiations for OIO to make Moonstake a wholly owned subsidiary.

Moonstake debuted its staking business last year with the aim to create the largest staking network in Asia. Since then, it has developed the most user-friendly staking wallets for both Web wallet and Mobile Application Wallet (iOS/Android) that are compatible with over 2,000 top cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets grew rapidly to reach USD 50 Million. By December, staking assets grew to USD 100 Million and currently, over USD 200 Million. Within a year since its establishment, the company was ranked in the top 20 of the world's 1,692 providers of staking services, and it continues to expand its business strongly.

Moonstake has partnered with more than 10 public blockchains such as Emurgo (one of Cardano's constituent corporations), NEO, Ontology and QTUM, collaborated with reputable DeFi projects and added leading Blockchain experts as advisors. Moonstake's advanced products centered on staking wallets attracted a great deal of attention from the market and rapidly increased a number of users all over the world. Based on the continuous growth, Moonstake has successfully closed its seed round funding and has raised $1.04 Million in Oct 2020.

Moonstake announced its full-scale entry into DeFi, a notable breakthrough in the blockchain industry in 2020, and will use its strengths in staking to make DeFi more usable and accessible for users.

OIO is a company listed on the Singapore Stock Exchange whose main business is providing M&E engineering services, blockchain-related agencies and consulting solution services. OIO has recently expanded into blockchain-related businesses which include sales agency, software development agency and blockchain-related consultancy. In February 2020, Moonstake entered into a strategic business alliance with DLF Holdings Limited (later renamed to OIO) for marketing, software sales, and explore market needs for the staking pool business in Singapore and other Southeast Asian countries.

OIO's vision is to be the best service partner and provider of innovative technology solutions to power the growth of enterprises in Asia and is looking to expand its business not only in the traditional areas but also in the investment and incubation areas. Now, Moonstake and OIO, which have been business alliance partners and are growing rapidly together have started negotiations about acquisition.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Catalist-Listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 200 Million. https://www.moonstake.io/

About OIO

OIO Holdings Limited ("OIO") is a Singapore Exchange-listed firm whose core businesses are the provision of mechanical and electrical ("M&E") engineering services, and blockchain-related agency and consulting solution services.

Over the years, OIO has developed extensive expertise as an M&E engineering services and solution provider. It has built up a strong network with well-established customers who are often engaged in luxury resorts or well-known projects in Singapore and the region such as Sengkang General Hospital and Sheraton Towers Singapore Hotel.

OIO has recently expanded into blockchain-related businesses which include sales agency business, software development agency business and blockchain-related consultancy businesses.

OIO's vision is to be the best service partner and provider of innovative technology solutions to power the growth of enterprises in Asia. https://oio.sg/

Source: OIO Holdings Ltd
Sectors: Crypto, Exchange