Tag: Firm

Asia-Based Digital Asset Firm HashKey Group in Early Stages of Raising $100M- $200M: Bloomberg

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Crypto Custodian M&A Likely After Ripple Deal, Says Advisory Firm

Traditional finance custodians such as Northern Trust and BNY Mellon have been wary of entering the crypto market due to the regulatory and market risks, but Architect Partners expects that to change in the future, which would represent “both a threat and an opportunity for those building specialized digital and crypto asset custody businesses.” The crypto winter has also put pressure on custodians and has slowed or stalled growth of assets under custody, leading to flat or declining revenues and recruiting financial staying power and conviction that an upturn is…

Pakistan government firm on stance to keep cryptos illegal

Dr. Aisha Ghaus Pasha, Pakistan’s Minister of State for Finance, declared on May 17 that the government has no plans to legalize cryptocurrency in the nation. The statement was made during a meeting of the Senate’s standing committee on finance. According to Pasha, both the State Bank of Pakistan (SBP) and the Ministry of Information and Technology have commenced work towards banning the use of cryptocurrency. This move is aimed at discouraging its usage amongst the population due to its inherent risks and concerns. The minister also noted that the…

Ripple acquires Swiss blockchain custody firm Metaco for $250M

On May 17, Ripple, creator of the namesake payments network and XRP token, announced it had acquired Swiss digital asset custodian and tokenization provider Metaco for $250 million. With the acquisition, Ripple says it will expand its enterprise offering to custody, issue, and settle tokenized assets. The firm’s developers wrote:  “Metaco will dramatically accelerate its growth trajectory through access to Ripple’s established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients.” Ripple estimates the institutional crypto custody…

Web3 Giant Axie Infinity’s AXS Token Jumps 12% After Firm Lists Game on Apple App Store

Initially, Apple store users across Latin America and Asia in countries including Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia and Vietnam will have access to the card-based game called Axie Infinity. The game already has 1.5 million installations across all platforms. Sky Mavis, the creator of the play-to-earn project, plans to expand the game’s outreach via Google and Apple mobile users. Source

Crypto Investment Firm CoinShares Reports Highest Quarterly Earnings since Q1 2022

CoinShares maintains a cautious optimism going ahead amid a strong surge in the regulatory activity taking place in the crypto market. Popular crypto investment firm CoinShares recently published its first quarter earnings results for the year 2023 marking a strong turnaround in the company profits. Of course, this comes amid the strong bounce-back taking place in the crypto sector this year. CoinShares Q1 2023 Earnings Report CoinShares called it a “return to profitability” after a tumultuous period last year in 2022 amid a strong crypto winter. In its report, CoinShares…

Web3 Firm Red Beard Ventures Closes $25M Funding Round With Animoca Labs, SuperRare

Red Beard Ventures launched as a syndicate of startup accelerator AngelList in 2019 by founder and managing partner Drew Austin. It has invested in 192 companies, including NBA Top Shot parent Dapper Labs, metaverse platform The Sandbox and data aggregator CryptoSlam, deploying more than $40 million in capital. The company has found success in Web3, though it also invests in projects related to space exploration, climate science, robotics, AI, fintech and biotech. Source

Crypto Security Firm Dfns Adds Biometric Support to Wallet Development Toolkit

According to Clarisse Hagège, CEO of Dfns, which has raised $15 million of funding: “The first place a new user may start their Web3 journey is by opening a wallet, and if the UX feels foreign, cumbersome, or unfamiliar, the likelihood of conversion and retention drops precipitously.” UX stands for “user interface.” Source AddsBiometricCryptoDevelopmentDfnsFirmSecuritySupportToolkitWallet CryptoX Portal