$3 million invested in UK’s new blockchain and cryptocurrency developing company

The investment is already one of the largest for such company in the United Kingdom
20 February 2018   484

COSIMO Ventures has made a seed investment of $3 million in Oneiro Ltd., with the latter based in Dublin and the former - both in Boston and Dublin. Oneiro is a player in UK’s arena of blockchain and cryptocurrency developing companies. This company is set to develop solutions that concern secure and dependable virtual currency. The firm uses blockchain technology to design a global cryptocurrency that is capable of storing value for a long perspective.

On the other hand, COSIMO Ventures has built its reputation around investing into promising technological startups with the intention of using their potential and turning them into global leaders. It has a vast experience in building strong partnerships and patronage over new companies across UK and US.

We’ve built a team of experienced professionals with a wealth of experience across many different segments and markets. Our innovations in the cryptocurrency space will leverage best practices and lessons learned from the markets.

 

Ken Lang

CTO of COSIMO

As for the investment into Oneiro, part of its core development team will be based in Dublin and COSIMO will help build an operating headquarters in Boston. The investment firm itself has offices in the same 2 cities.

We believe that Oneiro will bring the potential of the cryptocurrency market into a completely new realm as the acceptance, and use, of digital currencies becomes more mainstream. We are impressed by the experience and forward thinking of the team at Oneiro. This is one of the most exciting projects we've seen, and we’re pleased to support them as part of COSIMO’s investment strategy to offer unique technology solutions for the commercial markets.

 

Ciaran Hynes

Managing Partner at COSIMO Ventures

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.