Cryptape Co., Ltd., a Hangzou, China-based firm specialized in blockchain technology, completed its Pre-A round financing.
The round was led by China Merchants Bank Co., Ltd.’s wholly-owned subsidiary, CMB International Capital Corporation.
Led by CEO Jan Xie, Cryptape provides Cryptape Inter-enterprise Trust Automation (CITA), an enterprise-class enterprise blockchain platform that addressed the issue of and enabled micro services and logic nodes.
Xie was formerly the sole Chinese member of Ethereum’s research team. He took part in the public blockchain design and prototyping of research results. Cryptape’s advisory board includes:
– Ethereum founder Vitalik Buterin,
– ACM fellow Robert Van Renesse,
– IC3 co-director Elaine Shi and
– cryptographer Rafael Pass.
In 2016, Cryptape started taking part in the development of technology supporting China’s state-level blockchain applications. Since early 2017, CITA has shown that it performs well in the production environment of financial systems for a number of high profile financial institutions.