The blockchain-based fintech company Qenta will go public through a SPAC merger, with an estimated valuation of approximately $904 million

ChainCatcher news, according to a document from the U.S. Securities and Exchange Commission (SEC), fintech company Qenta, which uses blockchain technology to track precious metals, will go public on Nasdaq after merging with special purpose acquisition company (SPAC) Blockchain Coinvestors Acquisition Corp. The transaction is expected to be completed in the first half of 2023, and upon completion, the initial market capitalization of the merged company will be approximately $904 million.

Qenta has also secured $180 million in funding from Luxembourg-based investment firm GEM Global Yield. GEM will provide Qenta with a 48-month equity subscription service. Qenta has already ventured from precious metals into the digital asset space, focusing on digital trading while providing provenance, custody, and ownership tracking through blockchain technology. (source link)