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๐ŸŽ“ Will the attempt to revive Facebook’s old digital currency Project Diem succeed?

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Aptos, spearheaded by former Meta (formerly Facebook) employees, seeks to revive the Diem project that Facebook has abandoned.

The team has now raised $200 million in a funding round just four months after launching the company.

The tour, led by Andreessen Horowitz, was attended by venture capital firms and well-known companies such as Coinbase, Paxos, Tiger Global, FTX and others.

With the latest capital, the company plans to expand its current 25-member workforce and support more companies, brands and technologists looking to build their platform on Aptos.

The platform also launched open source Devnet.

And Aptos isn’t the only platform looking to revive Diem, a new layer 1 blockchain protocol.
Similar plans were revealed to OL in November last year, which expressed a desire to stay as close to the Diem database as possible.

“There are big companies like Binance, Coinbase, Paxos, Anchorage, Blockorus, Livepeer, Paymagic, Streaming Fast and others in our community who are already giving feedback and contributing code on Devnet,” Mo Sheikh, Aptos Co-Founder and CEO. , he explained in a blog post.

“In addition to building critical tools and strengthening the network, we plan to use our funds to support these groups on their journey through Web3 and help bring safer and fairer technology to the people they serve,” he added.

It should be noted that Diem (formerly Libra) was a stablecoin project launched by Meta (formerly Facebook), the social media giant. However, the company postponed the project after failing to get a positive response from regulators despite multiple efforts by the company.

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