Zenrock Laboratories Ltd (15425285): administration
- Status
- In administration
- Administration began
- 2026-04-08
- Administrators
- Ian James Corfield, Daniel Conway
- Administrators' firm
- FRP Advisory
- Formerly
- Fusion Laboratories Ltd
- Incorporated
- 2024-01-18
- Location
- London
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 18 January 2024 as Fusion Laboratories Ltd. On 4 February 2024, it acquired certain of the business and assets of Qredo Ltd, including the transfer of six employees under TUPE arrangements and the services of approximately 15 contractors. The Company’s principal activity was software development in the cryptocurrency sector, initially focused on building “zrChain”, a blockchain developed using the Cosmos SDK framework, designed to be secure, fast and scalable, with the intention of attracting third-party developers and generating associated fee income. The Company operated on a fully remote basis.
The Company's initial shareholders were entities associated with the US fund 50T (who had been the lead investors in Qredo Ltd), and a small number of private investors who had also held equity in Qredo Ltd. The shareholders provided initial funding for the Company’s development work.
During 2024, the Company launched zrChain. The Cayman Islands entity Foundation was established around this time, and launched the $ROCK token on 30 November 2024 as a utility token on zrChain. The Company subsequently sold the intellectual property relating to zrChain to Foundation, and the Company entered into a service agreement with Foundation to provide engineering, finance, administrative and other support services.
Administrators' statement of proposals (2026-06-18) · Companies House register