LG’s IT arm inks strategic partnership with QuickNode

November 07, 2023 09:34 AM PST | By Invezz

Partnership seeks to boost blockchain innovation in Asia

LG’s partnership and investment in Quicknode will see the blockchain platform benefit from a solutions for AI/Big data, cloud, smart logistics and Web3 among others. It’s a deal that adds to the growing embrace of cryptocurrency and blockchain technology across the world, particularly by large financial institutions and corporations keen to tap into the potential for the technology to power the leap from Web2 to Web3.

“By partnering with LG CNS, we’re setting a course for a future where blockchain technology is integrated into every digital facet, especially in the dynamic APAC market,” said Alexander Nabutovsky, co-founder and co-CEO of QuickNode.

Nabutovsky noted that the collaboration brought more than just a partnership to the industry. According to him, it’s a “merging of technological visions” and one that could redefine blockchain innovation, accessibility and utility not just in South Korea, but across APAC and beyond.

Min Bae, VP of security solutions division at LG CNS, commented on the partnership, stating:

“Together with QuickNode, we will create a robust blockchain foundation in the APAC region, starting with South Korea, and through this partnership, LG CNS will provide cutting-edge blockchain solutions to our customers,”

LG CNS invests in Quicknode

Other than the strategic partnership, LG CNS revealed an undisclosed investment in Quicknode that brought the company’s funding so far to over $100 million. It comes after QuickNode’s $60 million Series B round in January. The round was led by 10T Holdings, a digital assets-focused growth equity fund.

Despite the broader bear market strain on blockchain companies, QuickNode looks to have used the opportunity and funding to grow its user base and its global team. Quicknode currently offers its blockchain infrastructure across 24 blockchains, with solutions for analytics and elastic APIs among others.

LG CNS has, on the other hand, supported more than 50 blockchain projects via Monachain, its enterprise blockchain platform. Monachain allows for interoperability with top blockchains such as Ethereum, Solana, Hyperledger Fabric, and Besu.

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