Saudi Aramco Energy Ventures Invests $5M in Oil Blockchain Platform Vakt

The venture arm of the world's most profitable company Saudi Aramco has invested $5 million in blockchain-based oil trading platform Vakt.

Announcing the news on Tuesday, Vakt said Saudi Aramco Energy Ventures is now one of its 12 shareholders. With the fresh capital in place, Vakt plans to expand into new markets – with a particular focus on Asia.

Saudi Aramco has both the world's second-largest proven crude oil reserves and the second-largest daily oil production, according to Wikipedia. Last year, the firm held the world’s biggest initial public offering (IPO) to date - worth $25.6 billion. Read More...

Oil Blockchain Platform Vakt


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