World's Largest Oil Company Saudi Aramco Invests in Blockchain Trading Platform The venture arm of Saudi Aramco, the world's largest oil company in terms of oil production and reserves, has invested $ 5 million in energy trading platform Vakt.

The world's largest oil company Saudi Aramco has invested in a blockchain trading platform

The venture capital arm of Saudi Aramco, the world's largest oil producer and the largest in terms of oil reserves, has invested $ 5 million in the energy trading platform Vakt.

Saudi Aramco Energy Ventures is one of its 12 investors, according to the startup. Vakt leverages new financing to expand into new markets, primarily in Asia.

Under the terms of the agreement, Aramco Trading Company will begin using the Vakt platform, currently serving the market participants that have formed around the crude oil produced in the North Sea..

“Vakt showed that their platform can be used to digitize predominantly manual processes, which will be a real breakthrough in serving end users and customers,” said Hans Middelton, managing director of Saudi Aramco Energy Ventures Europe. - Blockchain technology and its application in the implementation of complex settlement and clearing operations make the Vakt product attractive for inclusion as an integral part of the existing market infrastructure ".

Vakt's customers today include BP, Equinor, Shell and Reliance Industries..

Similar articles

• One of the largest market makers will provide liquidity on DEX Serum High-frequency trading company Jump Trading has become an investor in the decentralized exchange Serum developed by FTX, writes The Block.

  One of the largest market makers will provide liquidity on the DEX Serum High frequency trading company Jump Trading has become...

• Switcheo will launch an analogue of Uniswap on the Zilliqa blockchain with its own token Developers of the Switcheo decentralized exchange today announced the Zilswap trading platform.

  Switcheo will launch an analogue of Uniswap on the Zilliqa blockchain with its own token Developers of the Switcheo decentralized exchange today announced a trading...

• KuCoin will open an over-the-counter service with support for the yuan and other fiat currencies According to the publication, the solution is aimed at expanding trading opportunities and increasing the number of supported payment methods..

  KuCoin To Open OTC Service With RMB and Other Fiat Support KuCoin Crypto Exchange Announces Preparation For Launch This Saturday...

• Research: Russian traders are in the top 5 in activity on crypto-exchanges in the world Analytical company DataLight this week published the results of a study of the distribution of traders in the cryptocurrency market by geographic regions. To do this, she analyzed the traffic of 100 leading crypto-exchanges and collected up-to-date statistics on the activity of market participants..

  Research: Russian traders are in the top 5 in terms of activity on crypto-exchanges in the world Analytical company DataLight this week published...

• Dan Larimer Reveals EOS Network Memory Scaling Solution Dan Larimer, CTO of Block.One, has revealed an upcoming EOS.IO protocol update that will help reduce network resource constraints. Changes to the cryptocurrency repository were made 3 days ago, but Larimer confirmed them only today.

  Dan Larimer Reveals EOS Network Memory Scaling Solution Block.One CTO Dan Larimer disclosed...