Singaporean Blockchain Platform Perlin Acquires Development Startup Dispatch Labs

Asia Blockchain Review
August 5, 2019

Perlin, a Singapore-based blockchain firm, has acquired blockchain development startup Dispatch Labs for an undisclosed value.

As reported by Cointelegraph, Perlin acquired Dispatch’s talent and strategic partnerships, as well as both provisional and non-provisional U.S. patents on Dispatch’s blockchain IP. Former Dispatch CTO Zane Witherspoon will manage Perlin’s Developer Ecosystem.

Tricky Situation Despite a Recovering Crypto Market

The acquisition follows reports in mid-June that Dispatch incurred substantial losses despite extensive investment amid a recovering cryptocurrency market. 

Although the startup received funding from its executive team, raising over US$13 million in a series of private rounds from other investors in 2018, the value of the raised capital slumped significantly after the market dropped in Q1 2019.

Additionally, while the team had indicated the threat driven by the market downturn, the firm did not have sufficient over the counter (OTC) availability to liquidate millions of dollars’ worth of digital currency, according to Dispatch CEO Matt McGraw.’

Perlin’s Prior Involvement in Blockchain Partnerships

It was reported in April that Perlin, which had already been involved in blockchain pilots for various businesses such as Asia Pacific Rayon, started working with the International Chamber of Commerce (ICC) as the organization focused more on prioritizing innovative technologies.

The collaboration aims to take various forms, with a specific focus on value chain traceability that involves tracking goods through their stages of production and delivery. This area has already seen major uptake from the blockchain sector as solutions aim to improve the provenance of whole supply chains. 

Singapore in particular stands to benefit from Perlin and the ICC pledging to advance initiatives to enhance the city-state’s status as a regional tech hub.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Blockchain Enables Verification of COVID-19 Immunity
    Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

    November 21, 2020

    Illicit Cryptocurrency Activity: A Concern
    Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

    November 20, 2020

    IBM Using Blockchain to Help Businesses Reopen during COVID-19
    IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

    November 20, 2020

    Canadian Pacific Railway Collaborates with TradeLens
    Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

    November 19, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us