Tag: funding

Fintech Startup Fnality Raises $95M in Funding Led by Goldman and BNP Paribas

With the recently secured Series B funding, Fnality is poised to continue its pioneering work in the tokenization of fiat currencies backed by Central Bank cash. Fnality, a fintech firm focused on building tokenized versions of major currencies collateralized by cash held at central banks, has successfully secured $95 million in its Series B funding round, with major financial institutions like Goldman Sachs Group Inc (NYSE: GS) and BNP Paribas SA (EPA: BNP) leading the investment. Fnality Funding and Key Participants The investment also had participation from key players such…

Goldman Sachs leads $95M funding round for blockchain payment firm Fnality — Report

Global investment bank Goldman Sachs and French universal bank BNP Paribas have reportedly led a new funding round for Fnality, a blockchain-based wholesale payments firm backed by Nomura Group. Fnality has raised 77.7 million British pounds ($95.09 million) in a second round of funding, Reuters reported on Nov. 13. In addition to Goldman and BNP Paribas, the fund raise involved participation by settlement houses like Euroclear and Depository Trust and Clearing Corporation. Other investors included the global exchange-traded fund firm WisdomTree and Fnality’s existing investor Nomura. There was also additional…

Goldman Sachs, BNP Paribas Lead Funding Round for Fnality

DTCC, Euroclear, Nomura and WisdomTree participated in the round, which also saw further commitment from a number of banks that backed Fnality’s $63m fundraise back in 2019: Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, and UBS. Source

How decentralized platforms democratize crypto funding initiatives

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While the prevailing traditional financing models resulted in the crypto and blockchain sector raising billions of dollars over the years, they are not without weaknesses, according to Project Catalyst’s group product manager. At the recent Cardano Summit in Dubai, Kriss Baird, the principal figure of Project Catalyst — a community-driven governance and grants and funds mechanism through voting within the Cardano ecosystem — spoke with Cointelegraph about the initiative, the extent of the collective’s involvement in shared resources and the direction of the platform’s development. Speaking about the opportunities and…

VC firm a16z crypto spearheads $4.2m seed funding for web3 company Pimlico

UK-based Pimlico has raised $4.2 million in a seed funding round led by a16z crypto, aiming to improve the Ethereum network by introducing versatile smart accounts through ERC-4337. Pimlico, a UK-based web3 infrastructure firm, has successfully secured $4.2 million in seed funding, a substantial boost spearheaded by a16z crypto. The company has its sights set on leveraging this investment to scale its operations. Pimlico’s core mission is to enhance the Ethereum network’s user-friendliness and functionality by implementing smart accounts through ERC-4337—a protocol for account abstraction. The introduction of smart accounts…

Cardano Summit 2023: Merging AI And Blockchain, Funding, And Day 2 Recap

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In the financial center of Dubai, the Cardano Summit 2023 will gather some of the most prominent projects in the crypto space. During the three-day event, speakers, founders, and the community will voice views on the growing sector and the future of the network and blockchain technology as Cardano enters a critical stage in its development. Cardano Summit 2023 Hints At What’s Next For The Ecosystem The second day of the Cardano Summit 2023 was all about a debate on governance, community, funding, and bridging the Cardano ecosystem with new…

Discredited Crypto Terrorist Funding Figures Gain Fresh Life in U.S. House Hearing

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Wall Street Journal corrects article misciting Hamas’ crypto terrorism funding data

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The Wall Street Journal (WSJ) has partially corrected an article whic mischaracterized the extent to which Hamas and other militant groups have been funding its terrorism activities with cryptocurrencies. The Oct. 10 article — titled “Hamas Militants Behind Israel Attack Raised Millions in Crypto” — cited blockchain forensics firm Elliptic to say Palestinian Islamic Jihad (PIJ), a terrorist organization operating on the Gaza Strip, raised as much as $93 million between August 2021 and June 2023. In the cited report, Elliptic said Israel’s counter-terrorism unit seized PIJ-linked wallets which received…