Algo Capital, a financial institution focused on powering the Algorand blockchain ecosystem, today announced that it will rebrand to Borderless Capital.

The Borderless Capital team says that with the major upgrade of the Algorand protocol to Algorand 2.0 in November 2019; significant improvements at the protocol level are creating new opportunities for blockchain adoption. Tokenization capabilities through the Algorand Standard Assets (ASA), multi-party transfer via atomic swaps and smart contracts at layer 1 using TEAL (Transaction Execution Approval Language) are some of these features. Now, entrepreneurs, startups and developers can start building their applications and products on Algorand 2.0 and take advantage of the same infrastructure (including exchanges, wallets, and tools) that is already available for Algo, the native digital currency of Algorand.

“In light of these innovations, we’ve encountered several new projects planning to issue assets on top of the Algorand network, launching new distributed financial applications (DeFi), building payments system and creating innovative network-driven businesses. Algorand’s borderless economy is growing at a steady pace, and now the ecosystem will include more than just the ALGO. Given all these exciting developments, we think the time is right to transform our brand in a way that better represents our support for the entire Algorand ecosystem, including non-Algo assets (Algorand Standard Assets) built on Algorand platform.”

– The Borderless Capital team

Operating as Borderless Capital, the firm’s core mission, vision, and investment strategy will remain the same. The team will continue backing category-leading projects in equity and/or tokens (issued as Algorand Standard Assets), that are furthering the Algorand borderless economy.

Per the firm’s original strategy, the ALGO will remain a unique asset for Borderless Capital; and the team will continue to ‘hodl and stake’ 100 million ALGOs over the long term. The team at Borderless Capital always viewed Algorand as a complete economic system without borders, not just a blockchain protocol. So they remain committed to investing capital and developing financial products that accelerate access, bootstrap adoption and create value globally.

In August 2019, Algo Capital closed its Algorand accelerator fund at $200 million, surpassing its original goal of $100 million.