Advanced Blockchain AG: Portfolio company Composable successfully launches
ETH-IBC mainnet enabling cross-chain transfers from Ethereum to Cosmos for the
first time

EQS-News: Advanced Blockchain AG / Key word(s): Cryptocurrency /
Blockchain/Miscellaneous
Advanced Blockchain AG: Portfolio company Composable successfully launches
ETH-IBC mainnet enabling cross-chain transfers from Ethereum to Cosmos for
the first time

04.04.2024 / 09:34 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Advanced Blockchain AG: Portfolio company Composable successfully launches
ETH-IBC mainnet enabling cross-chain transfers from Ethereum to Cosmos for
the first time

  * The long-awaited launch of the ETH-IBC mainnet marks a crucial milestone
    for the Composable team as they now have first-mover advantage.

  * Rollout is scheduled in different phases, with Phase One Beta enabling
    asset transfers between Ethereum and Cosmos ecosystems.

  * As one of Composable's earliest investors, Advanced Blockchain remains
    one of the largest token holder.

April 4, 2024 - Advanced Blockchain AG ("AB", Scale Frankfurt, Primary
Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator and
investor in the blockchain industry, announces that its portfolio company
Composable successfully launched their ETH-IBC mainnet.

Ethereum is now officially connected with the Inter-Blockchain-Communication
(IBC)-Protocol and can seamlessly connect with Cosmos, Polkadot, Kusama, and
soon, Solana. This connection marks another important step forward towards
delivering Composable's vision for IBC everywhere and a completely
interoperable DeFi landscape, a vision which is growing closer to reality
every day.

As part of the mainnet beta release, the IBC connection is fully deployed to
Ethereum linking the Cosmos and Ethereum Ecosystems. Users can now transfer
assets from Cosmos to Ethereum, and vice versa. This means that the process
will not require permission from any central authority, marking a
significant advancement in the blockchain space.

Simon Telian, CEO of AB, comments: "Ethereum, holding its position as the
second-largest crypto asset with a current market capitalization of roughly
$400 billion, plays a vital role in the narrative of the
Inter-Blockchain-Communication (IBC)-protocol. After three relentless years
of innovating the space, Composable has successfully achieved a crucial
milestone on bringing IBC everywhere."

"As the first team to successfully connect Cosmos to Ethereum via IBC, we
have achieved a pioneering breakthrough in cross-chain interoperability,
fulfilling the biggest milestone of our promise we made in 2021 to bring the
highest level of security to bridging," Henry Love, the executive director
of the Composable Foundation said in a statement.

To date, Composable's bridging solutions have reported a volume exceeding
$80 million, highlighting the impact and relevance of these interoperability
solutions. By channeling Ethereum's substantial capital to other
blockchains, not only is liquidity unlocked and collaboration between
various ecosystems fostered, but a revenue share is also granted to
Composable through transaction fees, thereby further stabilizing their
business.

For transactions from Ethereum to Cosmos, Composable will implement a charge
of a $20 gas fee. Similarly, for transfers from Cosmos to Ethereum, the fee
structure consists of $20 plus a 0.4% transaction fee.

Moreover, the roadmap includes an additional connectivity to Solana, further
broadening the horizons for asset interoperability and seamless transactions
across major blockchain networks. This step forward signifies a significant
leap towards a more interconnected and versatile blockchain ecosystem which
will likely also increase the volumes bridged via Composable's tech stack.

Both the Advanced Blockchain Management team as well as the Composable
Management team will be attending the TOKEN2049 conference this month in
Dubai.


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/.


Contact:
ir@advancedblockchain.com


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04.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Advanced Blockchain AG
                   Scharnhorststraße 24
                   10115 Berlin
                   Germany
   Phone:          +4930403669510
   Fax:            030403669511
   E-mail:         info@advancedblockchain.com
   Internet:       www.advancedblockchain.com
   ISIN:           DE000A0M93V6
   WKN:            A0M93V
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf
                   (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart,
                   Tradegate Exchange
   EQS News ID:    1872847

End of News EQS News Service
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1872847 04.04.2024 CET/CEST