Blockchain has raised $40 million of funding

Blockchain once again attracted investments
22 June 2017   2279
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

One of the most popular online bitcoin wallet  company has announced the completion of a successful series B funding round by raising $40 million. This is one of the largest investment rounds in the financial technology sector since Britain’s vote to leave the European Union.

About Blockchain

Blockchain is one of the oldest virtual currency businesses in industry. Founded in 2011 as an open-source project, now it is one of the biggest companies on the market. The platform had issues around 15 000 000 bitcoin wallets in over 140 countries. 

Investments

List of investors: Lakestar with participation from GV (formerly Google Ventures), Nokota Management, Digital Currency Group and existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson (Virgin Group).

We were impressed by Blockchain’s consistent market traction and dedication to building secure financial products for an increasing number of users. 
 

Tom Hulme
General Partner, Google Ventures

New capital

Investisions will support global expansion and localization efforts as well as research and development of emerging digital assets.

The 14 trillion dollar financial services industry hasn’t meaningfully changed in over a century. Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo.
 

Peter Smith
CEO and Co-Founder, Blockchain 

Back in 2014, the company raised $30.5 million. That was the largest investment in the digital currency industry at that time. 

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   83

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.