Bluechip with 1 million euros seed and relocation to Vienna
Marc Nemitz
| 08.01.2025
Bluechip strengthens the security of stablecoins with a €1 million seed investment and a strategic partnership with Raiffeisen Bank
Vienna, January 8, 2025 (pts) - Stablecoin rating agency Bluechip has relocated its headquarters from the USA to Vienna and simultaneously closed a seed round of 1 million euros. The investment is led by InnovaticGroup, supported by FF Office and Innomagic. Bluechip aims to increase security and transparency in the growing stablecoin market with its valuation technology.
Partnership with Raiffeisen Bank International
Bluechip also announced a strategic partnership with Raiffeisen Bank International (RBI). The aim of the collaboration is to strengthen the link between traditional banking and the crypto industry.
Blockchain technology can promote transparency and efficiency in asset management. With Bluechip, we have a strong partner to make informed decisions in the area of stablecoins.
Christian Wolf, Head of Strategic Partnerships at RBI
The partnership will also contribute to the development of new standards for stablecoins.
SMIDGE rating framework as an industry standard
Since its launch in July 2023, Bluechip has been setting new standards for the rating of stablecoins with the SMIDGE Rating Framework. It has already identified defaults of problematic stablecoins at an early stage. All stablecoins with a positive SMIDGE rating have performed stably to date.
Our goal is to set the industry standard for security ratings. Our success to date shows the importance of transparent information.
Benjamin Levit, CEO of Bluechip
Enhanced API integration
Bluechip has successfully integrated its ratings API on platforms such as RWA, 3cities and the Swiss crypto exchange Mt Pelerin. This makes Bluechip's security ratings directly usable for wallets and exchanges.
The decision to relocate the headquarters to Vienna strengthens Bluechip's position in the EU. With the new regulation by MiCAR, the company expects the European crypto market to grow and wants to use Vienna as a hub for crypto innovation.
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