Eros investments, a global portfolio of media, entertainment and technology companies, today announced the acquisition of a 90% fully diluted equity stake in ENT Global, a digital rights management company, for an undisclosed amount and entered into a strategic partnership with L3COS, a blockchain-based operating system. The joint entity will be the world’s first Fiat-on-Chain (FoC) entertainment ecosystem allowing creators and fans to interact directly to buy, sell and trade various digital assets. Moreover, this association will enable the mass adoption of crypto in everyday use and grow the user base globally with the support of various currencies protected by a central bank. The closed-loop, native marketplace for celebrities and creators will soon go live.
Fiat-on-Chain (FoC) will initially launch with three currencies – EUR, GBP and USD – all of which are fully cash-backed and protected by a central bank. Fiat-on-Chain (FoC) will be used for payments and transactions by launch partners AgriDex, the global agriculture and food industry supply chain marketplace, and ENT Global now owned by Eros investments.
Each participant transacting on the L3COS platform will have a unique and verified KYC/AML filtered digital identity to enable individuals, businesses and governments to interact and trade in a safe and regulated environment at the global level. global scale. This frictionless commerce is facilitated through the use of smart contracts and currencies of the end users’ choice. In addition, the revolutionary FoC (Fiat-on-Chain) technology enables real-time settlement of all transactions within the L3COS (Real Time Gross Settlement) ecosystem.
“As we prepare for the evolution of the industry, Eros is excited to create a first-of-its-kind global marketplace that removes barriers to entry for consumers transacting on a blockchain ecosystem. Thanks With the protection of the central bank, consumers can transact with confidence in a digital entertainment marketplace with Fiat-on-Chain capability for the first time. It’s the next step in the evolution of commerce. , and we are thrilled to be pioneering this disruption with L3COS,” said Kishore Lulla, president of Eros Investments.
“We are extremely excited about our partnership with Eros Investments & ENT Global to bring the FoC (Fiat-on-Chain) solution to the digital asset markets industry to eliminate the risks posed by stablecoins and other equivalent tokens. One that brings creators, athletes and artists together and allows them to develop and exchange digital intellectual properties – from event tickets, artworks, games and merchandise – directly with their fans. worldwide, without any intermediary and without risk of fraud“, says Zurab Ashvil, L3COS Founder.