RedFOX Labs, an industry-leading blockchain venture builder and consulting company helping organizations enhance performance and identify new market opportunities, today announced it would combine forces with Electra of The Netherlands, to design systems and a framework for expanding the Electra network.
Electra is a blockchain tech company based on bitcoin protocol with a focus on peer-to-peer digital payments. The Electra network safeguards funds from malicious attacks without compromising transactions speeds. Its unique payment system connects the decentralized and centralized financial worlds, and Electra is now a member of the prestigious Electronic Transactions Association. The ETA is the leading trade association for the payments industry, representing over 500 companies in 30 countries worldwide.
“We have some exciting ideas that we can’t wait to get working on for Electra,” said Ben Fairbank, CEO and co-founder of RedFOX Labs. “As a venture builder, we spend a lot of time identifying market opportunities and gaps and working on models and businesses that solve problems. Electra is an established project with a completed payment system, which is imperative for the majority of startups. We saw a unique opportunity to work with Electra to not only develop its current offerings but to also integrate their payments technology into a number of the companies we build. Electra is a wonderful base from which to work and with the introduction of Komodo’s technology, made even easier with the recent Antara release, we see some great opportunities to greatly expand the Electra ecosystem.”
RedFOX Labs is a Komodo ecosystem project that builds using the Komodo technology platform. Lead by an experienced team of Australian C-level executives, with global experience in disruptive tech and blockchain, RedFOX Labs is fast gaining a positive reputation in the commercial world where it aims to do the majority of its business.
“Electra, since its inception, has worked toward very clear goals in becoming established in the blockchain payments vertical. We believe our accreditation from the Electronic Transfer Association signals our accomplishment in being recognized and respected,” said Robert Bakker, Board Member of the Electra Foundation. “Today is a significant first step in what becomes the next stage in our journey. In RedFOX Labs, we have found a competent partner that knows how to best utilize one of the most innovative technology platforms in the blockchain space. We now can begin to build a network that reaches far wider and can be adopted by other companies. Together, we have the opportunity to identify and build a better tomorrow for all Electra supporters and end-users.”
RedFOX Labs will now look to begin their collaboration with Electra as early as next month as they move into the design stage.
Electra is a rapidly growing global blockchain with a focus on peer-to-peer digital payments. Electra’s blockchain design protects funds from malicious attacks without compromising transaction speed.
About RedFox Labs
RedFox Labs is a unique build-out incubator that enhances proven business models by refining, customizing, and integrating Komodo’s blockchain technology to launch industry-leading companies in emerging markets.