Digital banking infrastructure provider Banxa has raised $2 million in a Series A round. Led by blockchain investment firm NGC Ventures, the round also saw the ASX-listed Thorney Investment Group Australia participate, according to a press release on Wednesday. The firm offers a fiat currency to cryptocurrency gateway solution that was recently tapped by crypto exchange Binance for its addition of Australian dollar and euro payments. The new investment will be used to support the firm’s plans to expand in new markets including in Europe, Asia and Africa. “Banxa addresses…
Month: January 2020
Binance’s Fiat-Gateway Partner Banxa Raises $2M in Series A Round
Digital banking infrastructure provider Banxa has raised $2 million in a Series A round. Led by blockchain investment firm NGC Ventures, the round also saw the ASX-listed Thorney Investment Group Australia participate, according to a press release on Wednesday. The firm offers a fiat currency to cryptocurrency gateway solution that was recently tapped by crypto exchange Binance for its addition of Australian dollar and euro payments. The new investment will be used to support the firm’s plans to expand in new markets including in Europe, Asia and Africa. “Banxa addresses…
Enterprise Ethereum Alliance Launches Testing Ground for Blockchain Interoperability
The Enterprise Ethereum Alliance (EEA), the standards group where finance and other industries explore private versions of ethereum technology, has launched a testing ground to bring about certified, branded and harmonized business uses by the end of 2020. The EEA TestNet will operate as a pre-certification sandbox, where forks of ethereum can be standardized according to certain specifications set out previously by the EEA, which will make them interoperate with each other. There are now hundreds of companies working on enterprise versions of ethereum, plus an entirely new cohort of…
Blockchain Firm BitFury Partners With UN on Forest Project in Kazakhstan
Blockchain development firm Bitfury is set to partner with the United Nations Development Programme (UNDP) on a project to conserve and increase Kazakhstan’s forestland. As the Astana Times reported on Jan. 14, the project aims to help the country to reduce its greenhouse gas emissions by 15% over the coming decade to meet its commitments in the 2016 Paris Agreement. Offsetting Bifury’s carbon footprint Bitfury and the UNDP are poised to sign an agreement later this month with the Kazakh Ministry of Ecology, Geology and Natural Resources to create a…
UAE Can Save Over $3B by Deploying Blockchain, New Research Reveals
The deployment of blockchain technology can save the United Arab Emirates (UAE) more than $3 billion, according to new findings. The findings were revealed in a white paper entitled “Inclusive Deployment of Blockchain: Case Studies and Learning from the United Arab Emirates,” Emirates News Agency reported on Jan. 15. The paper was prepared by the Centre for the Fourth Industrial Revolution UAE — a multi-stakeholder operation focused on science and technology — the Dubai Future Foundation and the World Economic Forum. Sectors identify priorities for deploying blockchain The white paper…
Bitwise Withdraws Bitcoin ETF Proposal with SEC
Bitwise Bitcoin ETF proposal has been withdrawn. The cryptocurrency asset management firm indicated that it had submitted a note to the U.S. SEC. Bitwise said that the withdrawal request is “consistent with the public interest and protection of investors”. This shows that the firm is studying the situation at this time. The global head of research told: “We did indeed withdraw the application. This is a procedural step, and we intend to refile our application at an appropriate time.” It also shows the SEC’s reluctance to allow cryptocurrency firms to…
Voyager to Offer Interest on Three Newly Listed Stablecoins
Cryptocurrency brokerage Voyager Digital has listed three stablecoins and will soon allow customers to earn interest on their holdings. Announced Wednesday, Voyager said its support of tether (USDT), USD coin (USDC) and true USD (TUSD) would enable traders to better manage risk and fund their accounts without going through a bank. “Adding these three new stablecoins to our platform gives our customers an alternative funding mechanism and another means to hedge their risk in the crypto market,” said Stephen Ehrlich, Voyager co-founder and CEO. Voyager allows both retail and institutional…
Maduro Orders State-Run Firm to Sell 4.5M Oil Barrels for Petro
Venezuela will soon sell oil from reserves of a state-run oil and gas company for its national oil-pegged cryptocurrency, the Petro (PTR). Venezuelan President Nicolas Maduro has signed a decree to sell 4.5 million barrels of oil from the certified 30 million-barrel reserve maintained by Petroleum of Venezuela (PDVSA), the state-owned company officially announced on Jan. 14. According to PDVSA, Maduro announced the news in a speech before the Constituent National Assembly — an assembly elected in 2017 to draft a new constitution for Venezuela. Oil sales to be an…
Financial Technology on the Rise: Visa Buys Fintech Firm Plaid for $5.3 Billion
Visa, one of the largest and biggest payment systems in the world, is set to acquire one of the world’s largest financial technology (fintech) firms Plaid in a massive $5.3 billion deal. The payment giant, in a press release published two days ago, touted the fintech firm for the crucial roles it plays in the financial markets. As the major link between the financial world and the tech community, Visa looks to provide better customer service via the merge. Plaid is a network that makes it possible to link financial…
Bitstamp Crypto Exchange to Pilot Leverage Trading via Bank Partnership
The twelfth-largest cryptocurrency exchange, Bitstamp, partnered with cryptocurrency-friendly Silvergate Bank to pilot Bitcoin (BTC) leveraged trading. According to an announcement on Jan. 14, the exchange will serve as the launch partner for the bank’s Silvergate Exchange Network (SEN) Leverage service. During the pilot stage, the exchange will only offer leveraged trading to select institutional customers. The only collateral currently supported by the service is Bitcoin, which will be custodied by Bitstamp as Silvergate Bank’s first exchange partner. Silvergate Bank’s friendliness towards cryptocurrency businesses is seemingly paying off as it has…