Digital Currency Group Invested in Silvergate Bank

Silvergate Bank offered bank accounts to cryptocurrency startups
27 February 2018   1142

Specializing in venture capital investments in the cryptocurrency Digital Currency Group (DCG) has confirmed the financing of Silvergate Capital Corporation, the leading company of Bitcoin-friendly Silvergate Bank. This is reported by CoinDesk.

We are very pleased with the outcome of our private placement, which generated broad based support from both traditional bank investors and other strategic investors. Our greatly increased capital base will support our growth and enable us to continue making investments in technology and people that will improve efficiency and productivity, and expand the products and services offered to our business customers.

Alan Lane

CEO, Silvergate

 According to Silvergate, the company raised $ 114 million through the sale of 9.5 million shares through private placement. These funds will be used to further support the bank's initiatives in the field of fi ntekh.

Although Silvergate did not name the names of investors, DCG head Barry Silbert confirmed the firm's participation in the round of financing. The amount allocated by DCG is also not specified.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   108

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.