EQS-News: Advanced Blockchain: Portfolio company Composable appoints Henry Love as the Executive Director of the Composable Foundation following remarkable innovation in blockchain interoperability

Advanced Blockchain: Portfolio company Composable appoints Henry Love as the Executive Director of the Composable Foundation following remarkable innovation in blockchain interoperability

October 27, 2023 – Advanced Blockchain AG (“AB”, Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect and investor for the blockchain industry, announces that the portfolio company Composable has appointed Henry Love as the Executive Director of its newly established Composable Foundation. Backed by a strong expertise in blockchain technology, Henry Love has held various leadership roles, including serving as the Managing Partner at Fundamental Labs, a venture capital firm overseeing assets exceeding $1 billion in the blockchain sector, with an extensive portfolio that includes industry giants, such as Binance, Coinbase, Filecoin and Polkadot, among over 300 other projects. Prior to his tenure at Fundamental Labs, he co-founded Executive Council Network (ECN), a cryptocurrency corporate venture studio. He entered the crypto industry as Chief Investment Officer at a crypto-focused family office, following a highly successful career as a top performer at Facebook’s strategy, marketing & e-commerce division.

Henry Love's role at the Composable Foundation is multi-faceted and will encompass various responsibilities, including guiding the treasury to ensure effective resource allocation, managing day-to-day operations, fostering global collaboration with contributors worldwide to enrich the ecosystem, and forging strategic partnerships with stakeholders across diverse ecosystems to drive innovation and create synergies, ultimately contributing to the organization's increased valuation.

Simon Telian, CEO of Advanced Blockchain, comments: “I am very pleased that such an experienced blockchain expert is now leading the Composable Foundation. This comes just after Composable has achieved a major milestone by launching a groundbreaking bridge connecting Ethereum, Polkadot and Cosmos for the first time ever. This leadership addition of one of the best connected executives in the sector will be paving the way to the next phase of growth of Composable, where the commercialization of the technology with several ecosystems and strategic partners will be key for recurring revenue generation.”

The new bridge facilitates seamless native cryptocurrency transfers across different blockchain networks, offering benefits to institutions, investors, developers, end-users, and existing protocols within these ecosystems. Investors can diversify portfolios with reduced risks, end-users can transact securely via the Inter-Blockchain Communication (IBC) protocol, and users across ecosystems gain access to new opportunities in a more interconnected, liquid, and diverse market.

With Henry Love stepping into the role of the Executive Director, Omar is embarking on a remarkable transition from his current position as CEO to take on a new role as Research Lead and Founder within Composable Foundation. This transition represents an important evolution in Omar’s leadership journey, as he moves from the day-to-day operations of the company to driving research and innovation further with a continued commitment to the success and growth of the organization.

Lastly, the successful listing of BlackRock's proposed iShares spot Bitcoin ETF (IBTC) on the Depository Trust & Clearing Corporation (DTCC) heralds the onset of a more optimistic market sentiment, outlining a promising growth prospect for Composable. This potential is further bolstered by the presence of a seasoned executive like Henry Love, who possesses an intimate understanding of the ecosystem, its key stakeholders, and their leadership dynamics. Composable is now well-positioned to thrive in this evolving landscape, leveraging its experienced leadership to expertly navigate the intricate network of opportunities and drive forward-looking strategies for the commercialization of their distinctive product.

Important events for Advanced Blockchain in the 2023 financial year:
November 27-29, 2023 - Deutsches Eigenkapitalforum 2023, Frankfurt

Contact:
ir@advancedblockchain.com

About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.

For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.