The newly-formed Truffle Blockchain Group has announced that it is ready to expand its core user base, which is mostly made up of blockchain startups, to include enterprise-level partners.
“Enterprise adoption is finally happening because the maturity of our space is finally advancing to a level where enterprises can capitalize,” Wes McVay, vice president of partnerships at Truffle, told Forbes.
“Not only that, but they have the funds to invest into making this the experience that it should be, the technology that it should be.”
Expanding into enterprise-grade dev tools
Truffle reportedly raised $3 million in its bid to expand its offerings to include enterprise-grade solutions for the Ethereum blockchain.
“This capital is to give us the runway to test out all of these other revenue-generating opportunities,” Truffle founder and CEO Tim Coulter said.
The company also plans to use the money to onboard its first enterprise clients, a list of which it plans to unveil soon.
Ethereum incubator ConsenSys, which birthed Truffle earlier this year, is the sole investor of the fundraising round which closed in February and has installed founder Joe Lubin as a board member.
New integrations revealed, more coming
Among the many new integrations Truffle revealed is with AxCore, a proprietary blockchain developed by Axoni, a company backed by investment giants Goldman Sachs and JPMorgan.
The Depository Trust & Clearing Corporation (DTCC) is reportedly moving a huge part of its records to the ethereum-based AxCore, which will begin processing $10 trillion worth of transactions annually from the DTCC’s Trade Information Warehouse.
“Truffle is increasingly multi-protocol, or protocol agnostic,” said Axoni vice president of strategy and business development Mas Nakachi. “To the extent that those protocols have a single interface that developers are comfortable with and use, that eases adoption for us.”
This integration alone makes for a sizeable coup for Truffle, but the company isn’t stopping there.
It’s also integrating with JPMorgan’s open-source Quorum blockchain, Intel’s Hyperledger Sawtooth, and blockchain startup Monax’s Hyperledger Burrow.
Bridging the worlds of enterprise and crypto
Even though Truffle has already made a name for itself as the go-to company for Ethereum dev tools, these new integrations won’t necessarily mean that huge enterprises will begin to use the ETH cryptocurrency.
What it does mean, however, is that high-profile enterprises can now develop high-value projects on the public Ethereum blockchain.
Downloads of Truffle’s Ethereum dev tools have been increasing steadily since the price of ETH peaked in January of last year. Overall downloads now stand at around 1.7 million.
Now that enterprise-grade players are entering the playing field, Truffle’s new integrations may prove to be an unprecedented bridging of enterprises and the world of cryptocurrency.