TechFlow News, December 3 — Investment firm Genesis Block Ventures (GBV) announced the acquisition of OMG Network, a subsidiary of SYNQA and a leading Ethereum scaling solution developer. Following the acquisition, GBV and OMG will undertake significant integration and collaboration to leverage resources and explore new directions, such as building lending and trading platforms to realize DeFi's broad adoption and growth potential. Genesis Block Ventures is the sister company of Genesis Block, a crypto OTC platform. OMG Network is a trustless, non-custodial Layer 2 scaling solution designed for Ethereum value transfers, aiming to deliver fast, low-cost, and secure open financial services. The OMG Network supports thousands of transactions per second for transferring Ether (ETH) and ERC20 tokens, successfully scaling Ethereum for enterprise-grade applications. (DooPrime)
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