$50 Million Provenance Blockchain Grant to Revolutionize Financial Services

• Provenance Blockchain, an asset management network, has unveiled a $50 million HASH development grant.
• The grant is the result of a partnership between Provenance and Apollo, an asset management firm with half a trillion in assets.
• The grant program will bring developers to support the asset lifecycle as well as enable crowdsourcing for the future of finance.

Provenance Blockchain Unveils $50 Million Tech Grant

Earlier today, Provenance Blockchain announced a new $50 million HASH development grant to establish core services and experiences on the blockchain. This came by way of a partnership formed between Provenance and Apollo, an asset management firm that controls more than half a trillion in overall assets.

Partnership Details

John Zito – the senior partner and deputy CIO of credit at Apollo – commented on what both entities are planning for the future: “We are excited to work with Mike and his team at Figure on [several] initiatives using Provenance blockchain technology specifically developed for our industry. This collaboration extends Apollo’s strategy of working with best-in-class fintech firms to seek the operational and cost benefits that blockchain and other technologies can bring to bear.“

The Role Of The Provenance Blockchain

The Provenance blockchain is presently utilized by more than 60 separate financial institutions and fintech enterprises. Right now, the network has close to $10 billion in asset value locked within its confines. CEO Morgan McKenney says it’s different from other layer-1 blockchains in that it purely tries to service regulated monetary platforms on a regular basis rather than speculative or volatile tech companies like others have done in the past.

HASH Development Grant Program

The HASH development grant program brings developers to support the asset lifecycle while also enabling crowdsourcing for the future of finance according to McKenney: “As we add asset classes, we add other participants to the ecosystem…We are enabling the crowdsourcing of the future of finance.“


The launch of this new $50 million HASH development grant will help propel both Apollo’s endevours as well as those from Provenance’s diverse clientele base into success as they strive towards creating more efficient financial solutions through modern technology such as blockchain technology.