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One of the investors in Telegram, Taiwan startup Nogle, further injects into the virtual asset custody business.

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One of the investors in Telegram, Taiwan startup Nogle, further injects into the virtual asset custody business.

A Hong Kong-based venture capital firm, Nogle, with its research and development center located in Xinyi District, Taiwan, has ventured into the blockchain field. Recently, it invested $3 million in the digital asset custody department, First Digital Trust, to accelerate the expansion of its digital asset custody business.

Table of Contents

  • First Digital Trust will provide a real-time, fast settlement custody system.
  • Nogle is also one of the investors in Telegram.

Nogle Limited, founded by individuals from Singapore, combines talents from diverse backgrounds specializing in business model analysis and developing innovative technological solutions by leveraging various resources to enhance the probability of incubating new projects.

Established in the second half of 2019, First Digital Trust emerged from the traditional financial trust company Legacy Trust, which shifted its focus to expand its trust and pension businesses, while also providing flexibility for digital assets.

First Digital Trust recently announced the launch of a custody system that enables rapid settlement, allowing custody clients to seamlessly transfer digital assets. Initially limited to fiat and crypto assets, it will later expand to accommodate other assets, such as tokenized securities.

First Digital Trust plans to utilize investment funds from Nogle Limited to launch the new service as scheduled in May.

According to a report, in addition to strategic financing, First Digital Trust is deeply collaborating with Nogle to further develop its platform, aiming to integrate traditional financial services into the digital asset space and establish industry standards for digital asset custody.

Gunnar Jaerv, Chief Operating Officer of First Digital Trust, stated:

The unique collaborative effort between the two companies helps accelerate our vision of enabling the public to freely engage in digital asset transactions.

Notably, Nogle had previously invested in the popular messaging app Telegram's token issuance. It was reported earlier that the Telegram Open Network (TON) project's private sale list was exposed, involving former Russian cabinet minister Abyzov.

Telegram is currently embroiled in a lawsuit with the SEC, accused of conducting an unregistered sale of its Gram tokens, deemed illegal securities. A decision on this case is expected from the US District Court by April 30.

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