Blockchain.com Set to Raise $50 Million to Invest in Crypto Startups

2019-9-5 10:29

Coinspeaker
Blockchain.com Set to Raise $50 Million to Invest in Crypto Startups

Luxembourg based cryptocurrency wallet and data provider, Blockchain, is currently meeting with investors, as it plans to raise $50 million to invest in several related startups. According to reports, the generated funds would be used to fund the sector through equity as well as crypto coins.

The company which is backed by Google as well as Virgin founder Richard Branson, was founded in 2011 and has grown to be arguably one of the most patronized crypto wallet services in the sector, with its users numbering over 40 million. With more than $200 billion settled in transactions, Blockchain prides itself as being the cheapest wallet providers in the sector.

Branson backed the company with an investment back in 2017, the same year Blockchain opened its London office. So far, the company has raised more than $70 million from all of its fundraising efforts which apart from Google and Virgin, also include Lakestar, a venture capital firm based in Europe.

Further reports have it that the company’s campaign efforts to raise the funds will be headed by Samuel Harrison who joined Blockchain back in July last year, after leaving his position as an executive of investment firm, Nasper Ventures. Harrison’s LinkedIn page suggests that the fund is already live and has begun investing in a few firms such as Nodle. Coindirect, Silver.tv and Origin Protocol.

Blockchain has been criticized in the past for its heavy focus on Bitcoin. A few months ago, however, it launched its own cryptocurrency exchange platform called The Pit with a plan to support 26 different trading pairs, in the first phase. The firm also announced that it was seeking to set itself apart and improve on the sector by significantly cutting down on any downtime currently associated with crypto trading.

At the time, Blockchain CEO Peter Smith, said the plan is for The Pit to comfortably process all transactions in a maximum of 50 microseconds. Pulling this off would mean that the Pit would have a speed much better than currently available in the market.

The Pit already boasts of major execs who have experience with some of the world’s top firms including Goldman Sachs, Google, TD Ameritrade, and the New York Stock Exchange. Blockchain also boasts of former Barclays CEO, Antony Jenkins, as a board member.

Just like Google and Microsoft, Blockchain is joining a growing list of tech firms which are quite interested in floating their own venture capital projects, as a way to invest in and nurture several other related startups.

Back in January, Smith revealed that Blockchain was in talks with a stablecoin company and could announce an official partnership before the end of the year. Speaking on stablecoins, Smith said:

“I think all major stablecoin projects at the moment believe they need us. The question is which one do we decide that we need?”

Even though there’s no official statement, there are speculations that the stablecoin being considered by Blockchain is the Paxos Standard (PAX). If this comes through, PAX could possibly be the first stable coin to be listed on the Pit.

Blockchain.com Set to Raise $50 Million to Invest in Crypto Startups

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.2821 (-100%)

blockchain million raise crypto startups set invest

blockchain million → Результатов: 126


Фото:

Bear-Resistant: Blockstack Reaches “Milestone 1,” Unlocks $25 Million

Despite red water market conditions, Blockstack announced on December 13, 2018, that they had “unlocked” $25 million in resources to continue their blockchain development. In a company blog post, co-founder Muneeb Ali described the necessity of an advisory board, reviewed the firm’s milestones, and explained how the newly released funds would be put to use.

2018-12-15 00:00


Фото:

Korean Government to Lead 6 Blockchain Pilots With $9 Million Finance

The South Korean government will invest 10 billion Korean won (or $9 million) to support blockchain development in the country, with plans to carry out six pilots using blockchain technology. According to a report from CoinDesk Korea, the country’s Ministry of Science and ICT published a blockchain development strategy on Thursday. The agency said the government plans to

2018-6-22 11:53


Essentia.one allocates $11m to incubator fund for nurturing projects built on its protocol

The decentralized interoperability protocol Essentia is set to launch a fund valued at over $11 million to expand their ecosystem and incentivize projects to be built on top of the platform. Disclosure: This is a Sponsored Article The fund will drive development of a thriving program to accelerate real world adoption of blockchain technology, based […]

2018-6-22 01:30


Фото:

Essentia.one Launches $11m Fund for Advancing Projects Developed with Its Protocol

The decentralized interoperability protocol Essentia is set to launch a fund valued at over $11 million to expand their ecosystem and incentivize projects to be built on top of the platform. The fund will drive the development of a thriving program to accelerate real-world adoption of blockchain technology, based around Essentia’s enterprise-oriented solutions, while forging close ties with the community, without whom we could not have reached this stage.

2018-6-21 22:00


PR: Essentia.one Earmarks $11m to Foster Development of Projects Based on Its Protocol

The decentralized interoperability protocol Essentia is set to launch a fund valued at over $11 million to expand their ecosystem and incentivize projects to be built on top of the platform. The fund will drive development of a thriving program to accelerate real world adoption of blockchain technology, based around Essentia’s enterprise-oriented solutions, while forging close ties with the community, without whom we could not have reached this stage.

2018-6-20 20:30


Фото:

PR: Introducing Socios 2.0 – Football on the Blockchain Socios.com

New Platform Digitizes The ‘Socios’ Model, Fusing Crowd-Management With Blockchain Technology To Create A New Era Of Fan Engagement & Monetization In Football Mediarex, the Malta-based, Binance-backed fintech and sports company, who recently raised more than $65 million through a private token sale for its blockchain-based sports platform, will launch the world’s first fan engagement and fan monetization platform for the football industry through Socios.

2018-6-19 12:30