Share this article
Global Consultant DNV Invests in Blockchain Startup VeChain
Norway-based registrar DNV GL has invested in blockchain startup VeChain, with plans to become a "Masternode" holder, the firms have said.
By Nikhilesh De
Updated Sep 13, 2021, 7:57 a.m. Published May 15, 2018, 3:00 p.m.
Make us preferred on Google
Norway-based registrar organization DNV GL has invested in blockchain startup VeChain as part of an expansion of an existing working relationship.
While the companies did not reveal the amount of the investment, VeChain CEO Sunny Lu told CoinDesk that the companies would continue their partnership, which uses VeChain's network to securely store supply chain management data. The move marks one of the first enterprise investments in the VeChain network, he added.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Furthermore, DNV plans to become the first VeChain Authority Masternode holder, meaning it will have control over 101 Authority Masternodes on the startup's public VeChainThor network.
Luca Crisciotti, chief executive of DNV, told CoinDesk that the investment is one of several aimed at improving its existing processes – in this case, using VeChain's network to become more efficient, he said.
Additionally, the two firms will build a supply chain product for DNV clients using VeChain technology.
"We are able to provide with VeChain a solution that balances safety and [speed]," Crisciotti explained, adding:
"Our mission is the ability to make sure that product is reaching the shelves, that it's ultimately reaching the consumer ... What we are providing to our customers is commitment."
DNV's original agreement with VeChain was aimed at helping it more efficiently track food, beverage, fashion and retail products, as previously reported by CoinDesk.
Crisciotti cited VeChain's speed as a reason for picking the startup, explaining: "We needed a quick blockchain. With VeChain, we can do that."
The news marks DNV's latest move in the blockchain space. Crisciotti told CoinDesk that one pilot was undertaken last year thus far involved the registrar issuing certificates on its private blockchain.
Shipping image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
